KUALA LUMPUR -- Malaysia's government is backing a 1 billion ringgit ($242 million) loan as a lifeline to budget carrier AirAsia Group as it struggles to contain the fallout from the coronavirus pandemic, Nikkei Asia has learned.
Business trends
AirAsia wins Malaysia state backing for $242m COVID lifeline
Budget carrier expected to reveal more job cuts and wants to reduce size of fleet
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AirAsia aircraft at Kuala Lumpur International Airport. The carrier has sought government backing for loans to nurse it through the coronavirus pandemic. © Reuters
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