Timeline: From budget-airline pioneer to financial strain - how did AirAsia get here?
AI Summary
AirAsia, once a pioneering budget airline in Asia, has grown significantly since its acquisition in 2001. However, it now faces financial difficulties due to mounting debt and increasing fuel costs.
Bought for RM1 in 2001, AirAsia grew from a struggling Malaysian carrier into one of Asia’s best-known low-cost airline groups, but more than two decades later, it is facing mounting financial pressure from debt and rising fuel costs.
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