AirAsia is taking steps to reduce the debt owed by its Indonesian joint venture to meet a government ultimatum, as signs are also emerging that Indonesia’s two AirAsia franchises may merge. The Malaysia-based AirAsia parent said in a stock exchange filing that it has converted about 2 trillion Indonesian rupiahs ($136 million) of the amount it is owed by Indonesia AirAsia (IAA) into perpetual capital securities issued by the Indonesian joint venture.  This will see AirAsia taking ...

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