KUALA LUMPUR — Feb. 21, 2019: AirAsia X Berhad suffered a net loss of RM312.69 million last year against a net profit of RM98.89 million the year before.
Revenue slipped to RM4.54 billion from RM4.56 billion previously, the long-haul airline informed Bursa Malaysia today.
In the fourth quarter (4Q18), AirAsia X posted a net loss of RM99.27 million from RM84.42 million a year earlier while revenue eased to RM1.15 billion from RM1.22 billion.
The group’s net operating profit in 4Q18 was RM27.4 million against RM120 million in 4Q17, mainly due to an increase in average fuel price from US$69 per barrel to US$89. In addition, the group provided an impairment on amount due from joint venture amounting to RM24 million.
On prospects, AirAsia X said it would be adding up to five aircraft through operating leases in 2019 via AirAsia X Thailand.
AirAsia X Malaysia is expected to remain with 24 aircraft as it focuses on maximising aircraft utilisation and leverage on the group’s strategy in new route launches, as well as increasing the frequencies of core routes. — Bernama