Question

what is the current financial situation (2020 ) of air asia? and how do they manage their financial?

500 words.

Answer 1

Air Asia group losses widen this year. Air Asia is expected to sharp reduction in its international rights. It losses business due to the travel restriction following COVID 19. Air Asia having highest rank, based on marketing, investment, familiarity, loyalty, staff satisfaction and corporate reputation. The COVID 19 crisis crate dangerous threat to airlines losses the demand up to 20%. Value, innovation and choices are the three corners of Air Asia. One of the lost cost airline industries is Air Asia.
Airlines business is the major contributor to financial performance. Air Asia hedged 73% of its fuel requirements in this year. The COVID 19 firstly affected Chinese economy. This leads low level of travel towards China. So the company bear the cost of tickets refunded to passengers who book tickets to China. Forward ticket booking stunted for almost 2 to 5 months.
From 25th May 2020, domestic flights started their operations. The passengers should follow the health and other protocols. There is no responsibility for the airline company in case of quarantine of the passengers. Air Asia follows the standard operational procedure and other guidelines to ensure safety. These guidelines create confidence among the passengers. Like other companies, Air Asia follow regular disinfection procedure to control infectious agents using sanitising and disinfecting products with the help of public authority and aircraft manufactures. This airline company ensure the travel of passengers before the self declaration.