AirAsia Group’s Cash Flow
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AirAsia Group is an example of a company in the airline industry that has been struggling with cash flow issues in recent years. Because of the effect that the COVID-19 epidemic had on the aviation industry, the corporation declared a financial loss of RM 767.43 million (equivalent to around 170 million USD). The AirAsia Group has carried out several preventative actions. To begin, the corporation has been working to reduce expenses by, among other things, lowering staff pay, renegotiating contracts with vendors, and consolidating business processes. Second, to broaden its revenue base, the corporation has been investigating potential new sources of income, such as cargo operations. Third, the corporation has been actively generating capital via a variety of channels, including the issuing of bonds and the sale of assets. Air Asia Group also successfully obtained a loan from the government of Malaysia for RM 300 million. Overall, the way that the AirAsia Group has taken to solve its issues with cash flow has been a mix of cost reduction, expansion into new income streams, and financing. The firm successfully managed the adverse business climate brought on by the COVID-19 epidemic and enhanced its cash flow situation due to the actions taken. However, the aviation industry is still dealing with substantial problems, and it will be essential for businesses such as AirAsia Group to continue adapting to changing conditions and develop innovative solutions if they want to continue being profitable and competitive.
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References
Reuters (2020). Malaysia’s AirAsia secures a $72 mln loan from Sabah Development Bank. Retrieved from https://www.reuters.com/article/airasia-group-loan/malaysias-airasia-secures-72-mln-loan-from-sabah-development-bank-idUSL4N2HE35Z
Salim, S (2021) AirAsia X posts largest quarterly net loss, plans more job cuts. Retrieved from https://www.theedgemarkets.com/article/airasia-x-reports-rm567b-net-loss-quarter-ended-march-31-2021
Schurman, R (2023). AirAsia X continues to recover quarter by quarter. retrieved from https://airinsight.com/airasia-x-continues-to-recover-quarter-by-quarter/
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Cash Flow
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