Malaysia’s AirAsia works to regularize finances to get rid of PN17 tag

REUTERS/Beawiharta

Malaysian budget airline AirAsia Group Bhd said on Friday it was working on a plan to “regularize its financial condition” after being classified as a PN17 firm by Malaysia’s stock exchange.

The airline was branded a ‘Practice Note 17’, or PN17, company by Bursa Malaysia Securities, a tag given to financially distressed firms. PN17 companies may be de-listed by the exchange if they fail to regularize their finances within a set time frame.

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