Business

AirAsia Group had Q3 net loss of RM51.44 million

Syndicated News
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KUALA LUMPUR — Nov. 27, 2019: The AirAsia Group registered a net loss of RM51.44 million for the third quarter ended last September 30, against a net profit of RM915.87 million a year before that.

Loss before tax amounted to RM237.7 million, being the fair value loss on derivatives and RM206.3 million of unrealised losses on foreign exchange, net off against gain on disposal of property, plant and equipment of RM92.1 million.

However, revenue rose during the quarter to RM3.07 billion from RM2.61 billion previously, the group said in a filing with Bursa Malaysia today.

Total group revenue for the airline business for Q3 grew 17 per cent to RM2.95 billion, from the RM2.53 billion recorded in Q3 2018.

“The growth was mainly attributed to a 20 per cent increase in total passengers carried and a 1 per cent increase in revenue per available seat kilometre to 3.59 US cents,” it said.

The group maintains optimism that its core performance will be positive in the last quarter of the year. — Bernama

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