AirAsia X falls to 1Q loss on pandemic impact

KUALA LUMPUR: 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 RM549.7 mil for the January-March quarter versus a profit of RM43.3 mil a year earlier.

Revenue fell 21% to RM924.1 mil.

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%.

Unit costs rose 16% while unit revenue registered zero growth despite ancillary revenue per passenger growing 8%. – July 30, 2020, Reuters

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