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Malaysia’s AirAsia X reports record quarterly loss of $5.9bln By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – The tail of an AirAsiaX plane seen at Garuda Maintenance Facility AeroAsia Tangerang (Indonesia), September 20, 2017. REUTERS/Beawiharta

KUALA LUMPUR (Reuters) – Malaysia’s AirAsia X Bhd posted a record quarterly loss of $5.9 billion, eight times more than a year ago, as it made provisions for an amount payable to creditors, it said on Monday.

AirAsia Group BHD’s affiliate, AirAsia X Bhd suffered its ninth consecutive quarter-end loss.

After a net loss of 305.2million ringgit last year, the April-June loss was now 24.6 billion ringgit ($5.88billion).

The revenue fell 20.9%, to 72.3million ringgit, against 91.4million ringgit.

According to Fusion Media, the airline made provision of 23.8 million ringgit to creditors for quarter.

($1 = 4.1870 ringgit)

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