AirAsia securities trade suspended pending additional information from company

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KUALA LUMPUR (July 8): AirAsia Group Bhd's securities trade has been halted from 9am today after the budget airline said notes accompanying its results for the first quarter ended March 31, 2020 (1QFY20) were amended to include its auditors’ unqualified opinion statement with an emphasis of matter on material uncertainty relating to AirAsia’s status as a going concern in view of the current economic condition and Covid-19 pandemic.

In separate statements to Bursa Malaysia today, AirAsia said its external auditors Messrs Ernst & Young PLT’s unqualified opinion involves the airline’s audited financial statements for FY19.

"The 1QFY20 results have been amended to update note 3 thereof, as attached below (in the company’s amended filing).

"Reference is made to the company's announcement made on July 7, 2020 regarding the subject matter. The company wishes to announce that the suspended criteria have therefore been triggered. However, the relief measures as per Bursa Malaysia's letter date April 16, 2020 hereby applies. 

"Kindly be advised that trading in AirAsia's shares has been halted with effect from 9.00am, Wednesday, July 8, 2020. Accordingly, trading in structured warrants relating to AirAsia Group has also been halted at the same time.

"Please also be advised that trading in AirAsia's securities will continue to be halted pending additional information from the company. Your attention is drawn to AirAsia's announcements dated July 8, 2020.

"Kindly be advised that trading in AirAsia Group's shares will resume with effect from 2.30pm, Wednesday, July 8, 2020. Accordingly, trading in the structured warrants relating to AirAsia Group will also resume at the same time,” the airline said.

Prior to the securities trade suspension today, AirAsia Group shares' previous closing price stood at 85.5 sen.