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


© 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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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.