AirAsia slips to full-year loss
AirAsia Group has reported a full-year net loss of MYR286m (US$67.9m) for 2018, after a MYR1.7b net profit the previous year. The airline group says the negative result was due partly to “accounting treatment” associated with its move from owning to leasing aircraft, and partly to losses at AirAsia India. Revenue rose 17% to MYR12.4n. The group narrowed its Q4 net loss to MYR385m from MYR457m in the corresponding period of 2018. Q4 revenue was up 19% at MYR3.4b. AirAsia Philippines unit “turned profitable” in 2019 while losses narrowed at AirAsia Indonesia, the group notes. Acting CE Bo Lingam acknowledges that the coronavirus outbreak has made for a “challenging start to 2020”, but says the group is in a good position to recover quickly. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-02-28/unaligned/airasia-slips-to-full-year-loss
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AirAsia slips to full-year loss
AirAsia Group has reported a full-year net loss of MYR286m (US$67.9m) for 2018, after a MYR1.7b net profit the previous year. The airline group says the negative result was due partly to “accounting treatment” associated with its move from owning to leasing aircraft, and partly to losses at AirAsia India. Revenue rose 17% to MYR12.4n. The group narrowed its Q4 net loss to MYR385m from MYR457m in the corresponding period of 2018. Q4 revenue was up 19% at MYR3.4b. AirAsia Philippines unit “turned profitable” in 2019 while losses narrowed at AirAsia Indonesia, the group notes. Acting CE Bo Lingam acknowledges that the coronavirus outbreak has made for a “challenging start to 2020”, but says the group is in a good position to recover quickly. <br/>
