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high quality apple developer account:AirAsia's future in doubt due to virus; share price tumbles

appleaccounts2020-09-0477

Air Asia's future is in doubt because of the collapse in air travel as a result of coronavirusMoreThe future of top regional budget carrier AirAsia is in "significant doubt" due to the collapse in demand for air travel caused by coronavirus, its auditor warned, sending its share price tumbling 18 percent on Wednesday.The aviation industry is facing its biggest-ever crisis due to the pandemic, with airlines worldwide laying off huge numbers of staff while some have already gone out of business.AirAsia, led by colourful chief executive Tony Fernandes, pioneered low-cost air travel across Asia in the early 2000s at a time of growing demand from a fast-emerging middle class.But on Monday the debt-laden Malaysian airline reported a record quarterly loss of 803 million ringgit ($187 million) for the first three months of the year, after being forced to ground its fleet due to the virus.Auditor Ernst & Young said Tuesday that "travel and border restrictions implemented by countries around the world has led to a significant fall in demand for air travel which impacted the group's financial performance and cash flows".It noted the "existence of material uncertainties that may cast significant doubt on the group's and the company,

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