The trading of AirAsia Group shares on Bursa Malaysia was suspended for several hours on the morning of July 8, 2020, after auditors issued an unqualified opinion questioning the group's financial standing.

AirAsia Group said that it lost MYR283.2 million (USD66.3 million) at group level in 2019, although AirAsia (AK, Kuala Lumpur Int'l) itself posted a net profit of MYR2.9 billion (USD688 million). The group's liabilities exceeded assets by MYR1.8 billion (USD432 million). In the first quarter of 2020, the group lost a further MYR803.8 million (USD188 million).

Independent auditors from EY highlighted that the group's net loss and liabilities at the end of 2019 significantly exceeded assets, combined with the havoc wrought by the COVID-19 pandemic, "indicate the existence of material uncertainties that may cast significant doubt on the Group's and the Company's ability to continue as a going concern". The auditors, however, underlined that the recent progressive uplifting of measures restricting interstate travel and domestic tourism activities within the countries it serves was a positive development for the LCC.

"The financial statements of the Group and the Company have been prepared on a going concern basis, the validity of which is dependent on a successful recovery from the COVID-19 pandemic in conjunction with the actions undertaken by the government of the respective countries favourable outcome of the ongoing discussions with the financial institutions and investors to obtain required funding and successful implementation of the management’s plans for future actions," the auditors underlined.

Trading in AirAsia Group's share was resumed on the afternoon of July 8, although their price plummeted by 18.6% to MYR0.70 ringgit (USD0.16) per share compare to MYR0.86 at the close of trading on July 7.