As AirAsia slides after falling into PN17, Fernandes assures the airline is working on plan to regularise its financial condition
AirAsia Group Bhd, whose share price fell by as much as 26.17% on Friday after the low-cost carrier was classified as a Practice Note 17 (PN17) company following its failure to secure an extension of relief period from the bourse, is now in the midst of formulating a plan to regularise its financial condition, its group chief executive officer Tan Sri Tony Fernandes said. The airline had triggered the PN17 criteria in July 2020 after its external auditors Ernst & Young PLT issued an unqualified audit opinion with material uncertainty relating to going concern in respect of its financial st...