AIRASIA is seeking to raise RM2.5 billion by year-end, CEO Tony Fernandes told Reuters.

The airline, battered by the coronavirus pandemic, will also review its Japanese operations, said Fernandes.

The group is hoping to raise RM1.5 billion from bank loans and another RM1 billion from investors, both local and foreign, Fernandes told Reuters.

The cash crunch is forcing the airline to review operations in Japan and India, while undergoing restructuring and resizing.

Reports in June said about 170 pilots and more than 100 crew members will be laid off and overall, in both foreign and local airline units, some 3,000 jobs are expected to be affected.

In mid-August, the low-cost airline resumed daily flights between Kuala Lumpur and Singapore to be followed by other international destinations.

Meanwhile, airline leasing company BOC Aviation has filed a claim in the United Kingdom against AirAsia X for US$23 million (RM95.4 million) in outstanding dues.

AirAsia X said it has leased four planes from BOC Aviation.

The budget airline, the long-haul operator of the Air Asia Group, said BOC Aviation has alleged a breach of a lease agreement and its obligations under four guarantees dated December 2018. –September 8, 2020.