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HomeMalaysia NewsFinance Ministry Denies Claims Of Approving RM1 Billion Loan To AirAsia

Finance Ministry Denies Claims Of Approving RM1 Billion Loan To AirAsia

Kuala Lumpur: The ministry of Finance has denied the claims of approving RM1 billion loan to AirAsia.

In a statement issued by the finance ministry, it clarified that the ministry had not backed any loans to any airlines.

Earlier, it was reported that the government has approved an RM1billion loan to AirAsia group for restructuring and to revive from this pandemic effects, according to Nikkei Asia.

The loan was believed to be 80% guaranteed by the Finance Ministry and was said to be made by a group of local banks under a government scheme.

The report stated that the RM1 billion loan is very significant for the group for fundraising and repayment of small debts.

It also said that at first it was believed that the government was lending RM500 million, although the amount was raised to RM1 billion.

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