ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

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.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more