South Korea’s SK Group is said to be considering buying about 10 percent of AirAsia Group, a Malaysian low-cost carrier strapped in liquidity woes due to COVID-19.

Local media in Malaysian reported on Thursday that an investment entity set up by SK Group companies with a focus on Southeast Asia has been approached with the offer for a 10 percent stake for 100 billion won ($82 million) in total or 1 Malaysian ringgit ($0.23) per piece in AirAsia, the largest budget carrier in Asia. The budget airline reportedly has been tapping various investors for cash to solve its immediate liquidity issues caused by the coronavirus crisis.

SK Group confirmed on Thursday that it has received the offer from AirAsia. It is weighing the option purely for investment purposes but is yet to make a decision, the company said. Next news.

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