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AirAsia seeks sources of cash as net loss widens

Malaysian carrier sells spare engines but says liquidity will suffice next year

AirAsia said it was in talks over investments in parts of the group's business.   © Reuters

KUALA LUMPUR -- Low-cost carrier AirAsia said it has halved its fixed costs and is exploring its options to raise working and operating capital, including selling spare aircraft engines, as the airline continues to struggle because of travel bans imposed in Malaysia, Indonesia and Thailand -- three of its core markets.

The airline's sales fell 86% to 442.9 million ringgit ($108 million) for the third quarter ended Sept. 30, compared with 3.07 billion ringgit in the corresponding quarter last year. Its net loss widened to 851.78 million ringgit from 51.4 million ringgit previously.

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