Kuala Lumpur: AirAsia co-founder Tan Sri Tony Fernandes has dismissed as false reports that the Government had asked rival airlines to potentially take over the carrier’s domestic market share, as its shares came under heavy selling pressure, The Star reported.
According to a Bloomberg report, Fernandes said at a briefing in Bangkok on Friday that the Government had denied making such a request.
“I can say confidently the government said we never said anything like that,” he said, describing suggestions that another airline could simply take over AirAsia’s capacity as “ludicrous”.
The briefing came after AirAsia shares slumped 21 per cent to a four-year low on Thursday following reports that the Government had asked other local airlines to potentially absorb the cash-strapped carrier’s domestic market share.
Fernandes said AirAsia was strong in liquidity and cash management despite its current challenges, adding that the Covid-19 crisis was “far, far worse” than what the airline is facing now.
