Pasir Mas MP Ahmad Fadhli Shaari has questioned whether taxpayers could eventually be called upon to bail out AirAsia, following a report that the Finance Ministry hired a consultant to assess the budget airline’s financial standing.
“The first question is, why does the government need to appoint Alton?” Fadhli said, referring to Alton Aviation Consultancy, which a Reuters report said had been hired by the ministry to assess AirAsia’s funding needs.
“AirAsia is a private company. They would have their own managers, auditors, and financial advisers,” Fadhli wrote on social media in response to the report, which was published by The Star Online.
“If AirAsia needs funds, why does the Finance Ministry need to appoint a consultant to study it? What is Alton really hired to find out? Or is the government really looking at ways to help AirAsia? Is this an early step towards bailing out AirAsia?”
According to Reuters, AirAsia is seeking RM1 billion from international debt markets and RM700 million in local credit facilities. Its current liabilities stood at RM18.4 billion as of June 30, compared with RM954 million in cash and bank balances.
The report, however, stated that there were no indications the government was considering a bailout.
Fadhli said the government should nevertheless come clean on whether such assistance was being considered.
“If there is no bailout, just say so. Don’t be saying there is no bailout, but then the government comes in with funds or a government guarantee.
“Whatever name you call it, if the government’s money is involved and the public bears the risk, the public has a right to know," said the PAS information chief. - Mkini
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