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AirAsia shares suspended after auditor questions carrier's future

Ernst & Young cites 'material uncertainties' due to COVID-19 travel restrictions

AirAsia on Monday reported a first-quarter loss of 804 million ringgit, reversing a 96 million ringgit profit for the year-earlier period. (Photo by Akira Kodaka)

KUALA LUMPUR -- AirAsia Group shares were temporarily suspended on Wednesday after the company's external auditor told the Kuala Lumpur stock exchange that it had "significant doubt" over the budget airline's ability to operate amid the lingering pandemic.

In a report, Ernst & Young said it has found "material uncertainties" that may cast "significant doubt" on the carrier's ability to continue as a going concern now that the coronavirus has forced many countries to close their borders and restrict travel.

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