AirAsia securities trade suspended pending additional information from company

Bong Burgundy · Post by **Bong Burgundy** » Wed Jul 08, 2020 2:30 pm

AirAsia Group Bhd's securities trade has been halted from 9am today after the budget airline said notes accompanying its results for the first quarter ended March 31, 2020 (1QFY20) were amended to include its auditors’ unqualified opinion statement with an emphasis of matter on material uncertainty relating to AirAsia’s status as a going concern in view of the current economic condition and Covid-19 pandemic.

In separate statements to Bursa Malaysia today, AirAsia said its external auditors Messrs Ernst & Young PLT’s unqualified opinion involves the airline’s audited financial statements for FY19.

"The 1QFY20 results have been amended to update note 3 thereof, as attached below (in the company’s amended filing).

"Reference is made to the company's announcement made on July 7, 2020 regarding the subject matter. The company wishes to announce that the suspended criteria have therefore been triggered. However, the relief measures as per Bursa Malaysia's letter date April 16, 2020 hereby applies.

"Kindly be advised that trading in AirAsia's shares has been halted with effect from 9.00am, Wednesday, July 8, 2020. Accordingly, trading in structured warrants relating to AirAsia Group has also been halted at the same time.

"Please also be advised that trading in AirAsia's securities will continue to be halted pending additional information from the company. Your attention is drawn to AirAsia's announcements dated July 8, 2020.

"Kindly be advised that trading in AirAsia Group's shares will resume with effect from 2.30pm, Wednesday, July 8, 2020. Accordingly, trading in the structured warrants relating to AirAsia Group will also resume at the same time,” the airline said.

https://www.theedgemarkets.com/article/ ... on-company

Spigzy · Post by **Spigzy** » Wed Jul 08, 2020 2:57 pm

Perhaps Ernst & Young found that $1.7bn missing from Wirecard they didn't notice for years?

logos · Post by **logos** » Wed Jul 08, 2020 3:09 pm

Thai airways has been freezing all refunds in Europe as they're under "legal refunding procedures"

Don't trust them.

kicked off scam · Post by **kicked off scam** » Wed Jul 08, 2020 4:10 pm

and the good news just keeps rolling in ha ha ha

citizenK · Post by **citizenK** » Thu Jul 09, 2020 8:59 am

starkmonster · Post by **starkmonster** » Thu Jul 09, 2020 10:52 am

I know everyone hates flying AirAsia, but they did revolutionise regional travel here. It will be a real shame if they don't make it.

citizenK · Post by **citizenK** » Thu Jul 09, 2020 11:08 am

Playboy · Post by **Playboy** » Thu Jul 09, 2020 9:44 pm

starkmonster wrote: ↑
Thu Jul 09, 2020 10:52 am
I know everyone hates flying AirAsia, but they did revolutionise regional travel here. It will be a real shame if they don't make it.

I am fine with Air Asia on flight that are less than about 2.5 hours, over that I need a few extras. But for short jollies around the region they were/are great

spitthedog · Post by **spitthedog** » Fri Jul 10, 2020 2:06 am

"with an emphasis of matter on material uncertainty relating to AirAsia’s status as a going concern"

The "going concern" statement usually means going tits up, i think.

I did say awile back, i thought it was gonna happen with this company...
A focked clock, and all that...

Damn shame though.