AirAsia rounds out punishing year with record loss

AirAsia Group posted a record loss in Q4 and said revenue plunged 92% from a year earlier as coronavirus restrictions affected travel demand internationally and in Malaysia. The airline, a low-cost pioneer in Asia, posted a net loss of 2.4b ringgit ($590m) for the three months through December, taking its loss for the year to 5.1b ringgit. “While international borders remained closed, the group focused on resuming limited domestic operations in the areas we operate,” the company said Monday. “Lockdowns announced in Malaysia for the month of October and November further dampened sales.” The October-December period was AirAsia’s sixth-straight quarterly loss, and also marred by 391m ringgit in fuel-hedging losses. Bookings and load factors have gradually improved more recently, with the lifting of some restrictions on interstate travel and domestic tourism, the airline said.<br/>