Air Asia wont buy new aircraft , return their rented planes

PETALING JAYA: AirAsia Group Bhd is mulling returning some planes to lessors and shrinking its fleet, Reuters reported this evening.

The budget airline’s group CEO Tony Fernandes said they were “going to return as many as we can”.

“I estimate by the end of next year we’ll be flying 180 planes,” the news agency quoted him as saying.

The group currently has 245 airplanes.

Fernandes also said they would not be buying new aircraft.

His statement comes as the company continues to cope with the impact of the Covid-19 pandemic, which has not only left most of its planes grounded but has shut its operations in Japan.

It also comes a day after AirAsia X Bhd, the long-haul arm of the group, proposed restructuring RM63.5 billion of debt and reducing its share capital by 90%.

It was previously reported that the group was seeking to reconstitute the RM63.5 billion debt into a principal amount of RM200 million and for the balance to be waived.

Source :-MSN

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