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AirAsia to slash workforce by 30%, considers 10% stake sale

South Korea's SK Corp among a trio of multinationals expressing interest

AirAsia -- founded by Malaysian tycoon Tony Fernandes -- has received interest from South Korea’s SK Corp to acquire around 10% of the company’s total paid-up capital. (Source photos by Tsuyoshi Tamehiro and Shinya Sawai)

KUALA LUMPUR -- Southeast Asia's biggest low-cost carrier AirAsia Group is set to reduce its workforce by up to 30% as founder Tony Fernandes considers selling a 10% stake in the airline to raise cash.

Desperately trying to stave off a cash flow crisis triggered by the coronavirus pandemic which has decimated the region's travel and tourism industry, AirAsia will also slash remaining staff salaries by up to 75% in an attempt the save the airline, the Nikkei Asian Review has learned.

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