Malaysia's AirAsia founders not taking salary; staff accepts up to 75% pay cut

The founders of Malaysia's AirAsia Group will not take salaries and its staff has agreed to an as much as 75% cut in pay due to the impact of the novel coronavirus outbreak on the airline, its CE said late Saturday. Tony Fernandes said that he and executive chairman Kamarudin Meranun "will not be taking a salary during this period", while staff from across the business "have accepted temporary pay reductions of anywhere between 15-75%, depending on seniority, to share the impact this is having on our business". The airline has no incoming revenue and 96% of its fleet is grounded, Fernandes said. The airline has retained all its staff. AirAsia has also urged customers to accept credit offers for flights canceled instead of refunds. <br/>