SINGAPORE: Bought for RM1 (US$0.25) in 2001, AirAsia grew from a struggling Malaysian carrier into one of Asia’s best-known low-cost airline groups, helping transform air travel across Southeast Asia.
More than two decades later, however, the budget airline is facing financial pressure, weighed down by debt and a sharp rise in fuel costs.
Malaysia’s government has asked Malaysia Airlines and Batik Air whether they could absorb AirAsia’s domestic routes and passengers if necessary, people familiar with the matter told Reuters, as authorities carry out contingency planning while monitoring the budget carrier’s financial health.
The discussions do…
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