AirAsia X faces delisting after auditor reports concerns

AirAsia X may be delisted from Bursa Malaysia after its external auditor casts doubts on its ability to continue as a going concern. Ernst & Young issued a disclaimer of opinion on AirAsia X’s accounts for the 18 months ended June 30, 2021, triggering its status as a financially distressed company under Bursa Malaysia’s Practice Note 17. In a filing to the stock exchange, Ernst & Young expressed concern over the company’s financial position having reported a net loss of RM33.72bn with current liabilities exceeding assets by RM34bn. The company has also reported shareholders’ deficit of 33.6bn. The grounding of