BUDGET long-haul carrier AirAsia X Bhd (AAX) had been looking to defer lease rental payments to tide itself over during the coronavirus crisis, sources told air travel data and analytics firm Cirium.
According to aviation publication FlightGlobal, in a Feb 24 article, an executive at one of AAX’s lessors told Cirium that his company would allow AirAsia X to miss lease rental payments entirely, but would be open to letting it postpone payments.
Another executive at a different lessor with exposure to AAX admitted that this was not the first time the company asked for lease rental payment deferrals, said FlightGlobal.
AAX declined to comment on the matter.
According to Cirium fleet data, AAX has 17 Airbus A330-300s on lease, from Aircastle, BOC Aviation, Castlelake, DAE Capital, ICBC Leasing, Macquarie AirFinance, Minsheng Financial Leasing, Skyworks Leasing and Stratos.
AAX’s net loss widened for the nine months ended Sept 30, 2019, to RM393.67 mil from RM213.43 mil a year ago, while revenue was down 6.4% to RM3.2 bil from RM3.42 bil.
AAX is due to release its fourth quarter and 2019 financial results on Thursday, Feb 27.
The counter was up 4.55% at 12 sen as trading resumed after the midday break today. – Feb 25, 2020
