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Market Chatter: Malaysia Mulls AirAsia Contingency Plans as Financial Strain Grows

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Malaysian government is exploring contingency plans for AirAsia, including whether Malaysia Airlines and Batik Air could expand to cover the low-cost carrier's domestic routes if needed, Reuters reported Wednesday, citing people familiar with the discussions.

The talks come as authorities monitor AirAsia's financial position, with the airline seeking more than $1 billion in new financing and carrying 18.4 billion ringgit of current liabilities as of June 30. AirAsia also owes Malaysia Airports Holdings Berhad at least 500 million ringgit, mainly for services including landing and parking fees, the sources said.

The carrier reported an 831 million ringgit net loss for the second quarter, bearing the brunt of higher fuel costs, and 331 million ringgit of foreign-exchange losses, the news agency said.

AirAsia and Malaysia's Ministry of Transport did not immediately respond to' request for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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