Malaysia's AirAsia Group delays releasing earnings to end-March

Malaysian budget carrier AirAsia Group Bhd has postponed its fourth-quarter earnings release by about a month, just as its closed Japan unit starts bankruptcy proceedings. The airline confirmed that it had delayed the results announcement to the end of March, from initial plans to release the figures on Thursday evening. Malaysian market regulators have granted listed companies temporary relief measures in response to the coronavirus pandemic. AirAsia in a bourse filing on Wednesday said its 33%-owned Japan unit, which ceased operations last October, had begun bankruptcy proceedings. The airline will recognise a loss of $74.1m in its 2020 H2 financial results, from intercompany financial assistance and loans deemed irrecoverable. The company also incurred expenses of $5.2m in the fourth quarter last year and first quarter of 2021 related to aircraft de-registration to move three aircraft from Japan to Malaysia, it said.<br/>