Indonesia AirAsia Receives Notice From Transport Ministry Over Equity Position

KUALA LUMPUR, July 8 (Bernama) -- PT Indonesia AirAsia, a 49 per cent unit of AirAsia Bhd, has received a letter from Indonesia's Ministry of Transport, specifying that Indonesia AirAsia is to ensure a positive equity position by July 31, 2015. In a filing to Bursa Malaysia (Malaysia's Stock Exchange), AirAsia said, it, together with Indonesia AirAsia, were currently studying the letter as well as seeking a meeting with the ministry. AirAsia said the letter has no immediate effect on its operations in Indonesia and the airline shall at all times continue to operate within the ambit of Indonesian laws. It was reported that Indonesia's transport ministry has specified a July 31 deadline for airlines to ensure that they have no "negative equity" where loans exceeded assets value, or they will lose their flying licences. --BERNAMA