Annual Report 2020

Covid-19 threw the world into turmoil, impacting almost all industries across the board; but none perhaps as badly as travel and tourism. Along with international border closures as well as restrictions on domestic movements, aircraft have been grounded the world over, resulting in an unprecedented reduction in number of passengers as well as revenue. Never has the global travel environment been disrupted to this extent. Yet, as always, AirAsia has proven our resilience through an underlying spirit of innovation and agility which has seen us continue to evolve despite the immense challenges faced. MANAGEMENT DISCUSSION&ANALYSIS 60 AIRASIA GROUP BERHAD