AirAsia Japan files for bankruptcy; group hints India exit

AirAsia Group has cemented its retreat from East Asia as 33%-owned subsidiary AirAsia Japan (DJ, Nagoya Chubu) filed for bankruptcy proceedings on November 17. AirAsia Japan took the decision “due to insolvency resulting from a demand slump in travel induced by lockdown restrictions related to the coronavirus pandemic,” the group said in a stock exchange filing, adding that the “total cost of investment in AAJ has been fully written down.” It concluded: “Further announcements will be made in due course on...
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