AirAsia X plunges deeper into red amid ongoing grounding

AirAsia X widened its quarterly loss, as it remained grounded amid the coronavirus pandemic. For the quarter ended 30 September, the carrier, which recently unveiled a restructuring plan, reported an operating loss MYR498m ($122m), a staggering seven-fold increase year on year. It was also higher than the previous quarter’s MYR323m operating loss. Revenue for the period plunged 94% year on year to about MYR60m, as the carrier reported zero revenue from scheduled passenger operations. AirAsia X remains grounded amid international travel restrictions aimed at curbing the pandemic’s spread. Revenue from cargo operations and charter flights — amounting to some MYR8.5m — were not enough to stave off any further revenue loss. Meanwhile, expenses for the period fell 53% to MYR487 million, due mainly to its ongoing grounding, which has reduced flying activity. AirAsia X widened its net loss to MYR308m, compared to MYR230m the same period last year.<br/>