Bursa suspends AirAsia trading effective 9am today

KUALA LUMPUR: Trading of AirAsia Group Bhd shares on Bursa Malaysia’s Main Market has been halted beginning from 9am today and will only resume at 2.30pm.

AirAsia price closed at 85.5 sen on Tuesday.

Accordingly, trading in AirAsia’s structured warrants 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,” added the bourse.

Meanwhile, AirAsia board of directors, in a filing to Bursa Malaysia today, said the company has triggered the prescribed criteria pursuant to Paragraph 8.04 and Paragraph 2.1(e) of Practice Note 17 (PN17) of the main listing requirement (Main LR).

However, AirAsia said it will not be classified as a PN17 listed issuer and will not be required to comply with the obligations of the Main LR for a period of 12 months from the date of this announcement.

It will reassess its condition and announce whether it continues to trigger any of the criteria in PN17 of the Main LR upon the expiry of the 12 months from the date of this announcement, added AirAsia.

The Covid-19 pandemic took a serious toll on AirAsia Group Bhd’s financial performance, pushing the airline group to record a net loss of RM967.15 million in the first quarter ended March 31 against a net profit of RM21.31 million in the same quarter last year.