AirAsia X’s Q2 loss balloons to MYR24.5b

AirAsia X Group has posted an operating loss of MYR24.5b ($5.85b) for the quarter ended 30 June, widening significantly from a loss of MYR323m in the year-ago period. The group’s revenue fell 21% at MYR72.3m, the group says in its unaudited financial results disclosed to Bursa Malaysia on 27 September. The bulk of revenue for the quarter came from freight services, at MYR40.7m, followed by aircraft operating lease income at 23.5m and MYR8m from charter flights. It posted zero revenue from scheduled flights and ancillaries. The Malaysia-based long-haul, low-cost carrier says net operating loss for the quarter also widened to MYR24.6b from MYR305m loss in the year-ago quarter. The group’s cash and cash equivalents fell further to MYR68.5m as on 30 June from MYR308m at the beginning of the period. AirAsia X’s Malaysian unit posted an operating loss of MYR24.5b during the quarter, while the unit’s revenue stood at MYR72.3m. Its Thai unit’s operating loss was at MYR152m while revenue was at MY94.4m. Its Indonesian subsidiary recorded an operating loss of MYR1.08m, having posted zero revenue for the quarter.<br/>