Fernandes denies AirAsia bailout reports, calls carrier financially sound

Tony Fernandes, AirAsia's co-founder and group adviser, pushed back at reports of financial trouble at the carrier on September 18, 2026, saying at a press conference in Bangkok that the airline had not asked for or received any government assistance. "We are okay, we are sustainable," he said. He added that the company manages cash well and holds strong liquidity.

The conference followed a September 16, 2026 Reuters report that, citing unnamed sources, said Malaysia's government had approached Malaysia Airlines and Batik Air about their ability to absorb AirAsia's domestic market share as part of contingency planning while authorities monitored the airline's finances. Fernandes said the government had made no such statement. He called the suggestion that another carrier would take over AirAsia's capacity the most ludicrous claim he had heard in 25 years.

He also said he had no knowledge of any appointment of Alton Aviation Consultancy by Malaysia's Finance Ministry to assess the airline's capital needs. AirAsia, he said, was not an airline about to collapse.

The Reuters report set off a sharp sell-off. AirAsia shares closed 21% lower on September 17, 2026, a four-year low, then fell a further 2% the following day. Fernandes said coverage of the carrier tends to be exaggerated, and that no competitor could replace its roughly 100 aircraft overnight.