• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Malaysia’s AirAsia reports smaller Q2 loss, lockdown slowed sales

September 8, 2021 by David Barret Leave a Comment

September 8, 2021

KUALA LUMPUR (Reuters) – Malaysia’s flagship budget carrier AirAsia Group Bhd posted a smaller loss in the second quarter amid a jump in revenue, even as an enhanced lockdown dampened sales during an ongoing slump in travel, a bourse filing showed on Wednesday.

Revenue was 160% higher at 370 million ringgit, boosted by cargo revenues. Under its digital arm, revenue from its logistics business tripled while the fintech unit revenue was 56% higher.

Net loss for April-June was 41.6% lower at 580 million ringgit ($139.66 million), compared with a loss of 992 million ringgit a year ago when the airline hibernated its fleet at the start of the coronavirus pandemic.

Passengers carried for the quarter surged 272% to 758,746 while load factor – which measures how full a plane is – rose nine percentage points to 68%.

AirAsia said it continued with cost containment measures, including cutting headcount and salaries while managing its capacity to match demand.

The group is in negotiations with lessors to restructure lease terms, it said.

“By the end of the third quarter of 2021, we will have completed two batches of lease restructuring and expect to complete the full exercise by the end of 2021,” Group CEO Tony Fernandes said in a separate statement.

Fernandes said AirAsia has sufficient liquidity for the rest of the year and throughout 2022. The group plans to raise up to 1 billion ringgit https://ift.tt/38QSxx2 through a rights issue by the end of this year.

The group expects all its airline entities – Malaysia, Thailand and Indonesia – to see a gradual pickup in domestic operations in the fourth quarter, following the easing of travel restrictions in line with the increase in vaccination rates.

($1 = 4.1530 ringgit)

(Reporting by Liz Lee; Editing by Bernadette Baum)

Source Link Malaysia’s AirAsia reports smaller Q2 loss, lockdown slowed sales

David Barret
David Barret

Related posts:

  1. What 377 Y Combinator pitches will teach you about startups
  2. Tennis-Fearless teenagers and hungry qualifiers light up U.S. Open
  3. South Africa’s former President Zuma placed on medical parole
  4. Tennis-Qualifier Van de Zandschulp tames Argentine battler to reach quarters

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Have You Seen This Snake? Florida Wants Your Help Finding Rare Species Seen Once In 50 Years
  • Plague Confirmed In Lake Tahoe Area For First Time In 5 Years, California Officials Say
  • Supergiant Star Spotted Blowing Milky Way’s Largest Bubble Of Its Kind, Surprising Astronomers
  • Game Theory Promised To Explain Human Decisions. Did It?
  • Genes, Hormones, And Hairstyling – Here Are Some Causes Of Hair Loss You Might Not Have Heard Of
  • Answer To 30-Year-Old Mystery Code Embedded In The Kryptos CIA Sculpture To Be Sold At Auction
  • Merry Mice: Human Brain Cells Transplanted Into Mice Reduce Anxiety And Depression
  • Asteroid-Bound NASA Mission Snaps Earth-Moon Portrait From 290 Million Kilometers Away
  • Forget State Mammals – Some States Have Official Dinosaurs, And They’re Awesome
  • Female Jumping Spiders Of Two Species Prefer The Sexy Red Males Of One, Leading To Hybridization
  • Why Is It So Difficult To Find New Moons In The Solar System?
  • New “Oxygen-Breathing” Crystal Could Recharge Fuel Cells And More
  • Some Gut Bacteria Cause Insomnia While Others Protect Against It, 400,000-Person Study Argues
  • Neanderthals And Homo Sapiens Got It On 100,000 Years Earlier Than We Thought
  • “Womb Of The Universe”: Native American Tribal Elders Help Archaeologists Decipher Ancient Rock Art In Missouri Cave
  • 16,000-Year-Old Paintings Suggest Prehistoric Humans Risked Their Lives To Enter “Shaman Training Cave”
  • Final Gasps Of A Dying Star Seen Through A Record-Breaking 130 Years Of Data
  • COVID-19 “Vaccine Alternative” Injection Could Be On Fast-Track To Approval From FDA
  • New Jersey Officials Investigate Possible First Locally Acquired Malaria Case Since 1991
  • First-of-Its-Kind Bright Orange Nurse Shark Recorded Off Costa Rica Makes History
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version