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Transportation

Capital A outlook clouded by state-backed loan denial

AirAsia's parent raising funds ahead of expected air travel demand increase

AirAsia parent Capital A will need to find other sources of funding after failing to qualify for a goverment-backed loan.   © AP

KUALA LUMPUR -- AirAsia parent Capital A faces fresh turbulence after the denial of a much-anticipated 500 million ringgit ($119.20 million) government-backed loan the company was counting on to fund operating expenditures amid the rapid reopening of international borders for travel and tourism in Southeast Asia.

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