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Malaysia's AirAsia X falls to first-quarter loss on pandemic impact

Malaysia's AirAsia X falls to first-quarter loss on pandemic impact

Malaysia's AirAsia X Bhd fell to a net loss in its first quarter, a fourth straight quarterly loss as the pandemic slowed air travel demand.

  • Reuters
  • Last Updated: July 30, 2020, 5:20 PM IST
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KUALA LUMPUR Malaysia’s AirAsia X Bhd fell to a net loss in its first quarter, a fourth straight quarterly loss as the pandemic slowed air travel demand.

The long-haul arm of AirAsia Group Bhd recorded a net loss of 549.7 million ringgit ($130 million) for the January-March quarter versus a profit of 43.3 million a year earlier.

Revenue fell 21% to 924.1 million ringgit.

Passengers carried fell 25% to 1.14 million and the airline’s load factor, which measures how full planes are, shrank 11 percentage points to 74%.

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Unit costs rose 16% while unit revenue registered zero growth despite ancillary revenue per passenger growing 8%.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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  • First Published: July 30, 2020, 5:20 PM IST
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