April 29, 2020 / 6:00 AM / a month ago

BRIEF-Airasia Group Says Do Not Intend To Take Any New Aircraft Deliveries This Year

April 29 (Reuters) - Airasia Group Bhd:

* RESUMED SCHEDULED DOMESTIC FLIGHTS IN MALAYSIA, TO BE FOLLOWED BY THAILAND ON 1 MAY. PHILIPPINES 16 MAY, & INDONESIA 7 MAY, ON APPROVAL

* DO NOT INTEND TO TAKE ANY NEW AIRCRAFT DELIVERIES THIS YEAR WITH TARGET TO END 2020 WITH 242 AIRCRAFT, NET REDUCTION OF 1 AIRCRAFT FROM 2019

* RELOOKING CO’S ORDERBOOK WITH AIRBUS

* RESTRUCTURED MAJOR PORTION OF THE FUEL HEDGES AND STILL IN PROCESS OF RESTRUCTURING REMAINING EXPOSURE

* MEASURES TO MANAGE COST; MANAGEMENT, SENIOR STAFF TO MAKE SALARY SACRIFICE, RE-NEGOTIATE CONTRACTS AND DEFER ALL NON-ESSENTIAL SPENDING

* EXPECT ALL COST MANAGEMENT INITIATIVES TO RESULT IN AT LEAST A 30% COST REDUCTION YOY IN 2020

* HOPE TO CONTINUE TO SUSTAIN 1.3 MILLION JOBS & COUNTING IN SECTOR IN REGION, DIRECTLY & INDIRECTLY Source text: [bit.ly/3aQjEqC] Further company coverage:

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