AirAsia net loss widens in Q3 2019 financial results

Darren Wood
By Darren Wood November 15, 2019 12:36

AirAsia net loss widens in Q3 2019 financial results

Net loss for AiAsia X Berhad has widened to RM229.89 million in its third-quarter 2019 financial results, compared to the RM197.47 million experienced a year earlier.

The group has said that the widened loss was due to a RM67.5 million rise in foreign exchange losses as well as deferred taxation of RM71.76 million.

On a plus note for the group, its net operating loss for the quarter decreased to RM69.46 million compared to RM205.23 million in 2018’s corresponding period. The group has said this is due to the recognition of airport incentives and a lower fuel price.

In the future, the airline pointed out the challenges posed by the weakening of the ringgit against the US dollar.

In a statement, the group said: “The company expects fourthquarter 2019’s overall core results to remain reasonably healthier operationally year-on-year as the management remains committed to ensure sustainable growth amid challenges in the global aviation industry.”

Darren Wood
By Darren Wood November 15, 2019 12:36