Budget carrier AirAsia Group Bhd on Thursday said it was in talks to raise more than RM1 billion in funds, a day after its auditor cast doubt on its ability to continue as a going concern.

AirAsia, like other airlines, had been slammed by the coronavirus pandemic that hammered demand for air travel. Its auditors have said its 2019 earnings were prepared on a going concern basis, which is dependent upon a recovery from the crisis and the success of fundraising efforts.