AirAsia X narrows operating losses in quarter to 30 September

Long-haul, low-cost carrier AirAsia X has reported an operating loss of MYR82.5m ($19.6m) for Q1 of its 2022 financial year. The carrier generated revenue of MYR99.3m for the three months ended 30 September, and a net loss of MYR149m, it says. The carrier did not provide corresponding figures for the same period in 2021, given that it changed its financial year. Still, its performance improved across key metrics. In the three months to 30 September 2020, it generated an operating loss of MYR498m, revenues of MYR60m, and a net loss of MYR308m. The airline adds that it remains largely grounded, apart from a “limited number of cargo and charter flights.” AirAsia X also provided some details about Thai AirAsia X and Indonesia AirAsia Extra, in which it holds 49% stakes, during the three months to 30 September. TAAX suffered a net loss of MYR353m, while Indonesia AirAsia Extra generated a net profit of MYR12.3m. The group adds that there is “meaningful uncertainty about the reopening of international borders,” which affects its prospects.<br/>