Losses deepen for Malaysian carrier AirAsia X
AirAsia X’s net loss widened by 82% in Q4, it said in a stock exchange filing on Friday, for a seventh straight quarterly loss as operations remain grounded because of the COVID-19 pandemic. The airline recorded 174.3m ringgit ($43.06m) in losses for the October-December period, compared with 95.8m ringgit in the same quarter a year ago. Revenue plunged 95% to 54.7m ringgit. AirAsia X, an affiliate of AirAsia Group, is seeking a restructuring of its debt. A Malaysian court this week granted it leave to convene meetings with creditors to vote on a plan to reconstitute 64.15b ringgit of debt. “This decision by the court to allow the company to seek concessions from its creditors represents an important step forward in the restructuring process,” AirAsia X said. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-03-01/unaligned/losses-deepen-for-malaysian-carrier-airasia-x
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Losses deepen for Malaysian carrier AirAsia X
AirAsia X’s net loss widened by 82% in Q4, it said in a stock exchange filing on Friday, for a seventh straight quarterly loss as operations remain grounded because of the COVID-19 pandemic. The airline recorded 174.3m ringgit ($43.06m) in losses for the October-December period, compared with 95.8m ringgit in the same quarter a year ago. Revenue plunged 95% to 54.7m ringgit. AirAsia X, an affiliate of AirAsia Group, is seeking a restructuring of its debt. A Malaysian court this week granted it leave to convene meetings with creditors to vote on a plan to reconstitute 64.15b ringgit of debt. “This decision by the court to allow the company to seek concessions from its creditors represents an important step forward in the restructuring process,” AirAsia X said. <br/>
