AirAsia in trading halt after auditor flags 'going concern' doubts

AirAsia in trading halt after auditor flags 'going concern' doubts

REUTERS/Chaiwat Subprasom

Shares in Malaysia’s AirAsia Group Bhd were halted on Wednesday after its auditor said there were material uncertainties that cast doubt on the budget carrier’s ability to continue as a going concern.

In an unqualified audit opinion on the airline’s earnings results for 2019, Ernst & Young PLT said the financial statements were prepared on a going concern basis, which is dependent upon recovery from the COVID-19 pandemic and the success of fundraising efforts.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter