AirAsia founder Tony Fernandes began talks with bankers to take Asia's number one budget airline private after a plunge in its stock price put $200 million worth of loans borrowed against AirAsia's shares at risk.
Disposals also likely, clients to be cut -CEO memo to staff
AirAsia has come under scrutiny since June when GMT Research issued a critical report questioning its accounts.
India's biggest airline IndiGo is set to file the prospectus next week for a domestic stock market listing.
SpiceJet has cut capacity by reducing its fleet to 35 Boeing 737 aircraft from 42 in December.
Banks are hurriedly scrutinising their account holders before stricter tax evasion measures come into force.