AirAsia to shrink fleet size
AirAsia Group plans to significantly reduce its fleet size.
It will cut its fleet by about one-quarter, returning planes to lessors, and has no plans to buy new planes ‘for a number of years.’
It has already deferred deliveries of an existing Airbus order.
The group currently has 245 planes.
"We are going to return as many as we can. I estimate by the end of next year we’ll be flying 180 planes," Group Chief Executive Tony Fernandes said at a media briefing.
"I don’t see us getting into a position where we want to buy planes for a number of years and even if we want to buy planes, there will probably be a lot of cheap second-hand planes."
The budget airline has been hit hard by widespread border closure and a slump in travel demand.
It has laid off about 2,000 employees and long-haul division AirAsia X announced plans for a major debt restructuring.
AirAsia Group employed about 24,000 before the pandemic.
Last week it confirmed AirAsia Japan ceased operations.
It hopes to raise about $600 million in capital and Fernandes said an unnamed US firm has been in touch and is willing to lend up to $1 billion.
Written by Ray Montgomery, Asia Editor
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Skyscanner reveals major travel trends 2026 at ITB Asia
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
In Italy, the Meloni government congratulates itself for its tourism achievements