AirAsia Group Bhd. is closing down its operations in Japan as it grapples with coronavirus-related restrictions on global travel, Nikkei reported, citing an unidentified person close to the low-cost airline.

The Malaysian group’s directors met Monday and decided to wind up the Japanese venture, Nikkei said. An announcement will follow early next week, according to the report.

AirAsia in August posted its largest quarterly loss on record, and has said it wants to raise as much as 2.5 billion ringgit ($600 million) by the end of the year to weather the pandemic. The airline has also flagged that it’s evaluating its Japanese business, which counts e-commerce group Rakuten Inc. among its investors, and a decision was imminent.

An AirAsia spokesperson said Wednesday there was nothing to announce at this time in relation to the venture, after a similar report by Yomiuri. The sale of AirAsia Japan flights is suspended, the spokesperson said.