AAX 5238 pn17 AIRASIA X BERHAD slips back into the red in 4Q with RM652.52 mil net loss
KUALA LUMPUR (Aug 19): AirAsia X Bhd (AAX) closed its financial year 2022 (FY22) on a negative note as it slipped back into the red in its fourth quarter ended June 30, 2022 (4QFY22) with a net loss of RM652.52 million.
It was profitable in the preceding quarter (3QFY22), when it made a net profit of RM33.62 billion after writing back a similar amount to profit following the completion of the group's debt restructuring.
The revenue of AirAsia Aviation Group's low-cost long-haul affiliate dropped to RM107.18 million in 4QFY22 from RM113.01 million in 3QFY22, its Bursa Malaysia filing showed.
No comparative figures from the year-ago corresponding quarter were provided as the group changed its financial year end from Dec 31, 2020 to June 30, 2021.
For the full FY22 ended June 30, 2022, the Practice Note 17 company registered a net profit of RM32.8 billion — after RM33.6 billion of provisions made for default under contracts and liabilities had been forgiven and reversed during the year following the completion of its debt restructuring process. Annual revenue came in at RM438.77 million.
As travel restrictions gradually relaxed across the region, AAX said it has started operations to Incheon, Seoul and Delhi. It is expected to ramp up its operations by the end of 2022 and early 2023 to Japan, Australia, New Zealand, the UK, Istanbul, Dubai and Jeddah.
"The planned routes have been taken into account on routes with high cargo loads and demand, which will contribute positively towards the financial of the company.
"The company is currently operating under a high fuel price environment, weakening of the ringgit against the US dollar and obtaining regulatory approvals of the routes. The company also expects the load factor to build gradually as there are challenges in some of the markets such as the longer Australian visa application process, travel restrictions in Japan and Taiwan, and restricted entry in China," it added.
AAX shares finished half a sen or 1.02% higher at 49.5 sen on Friday (Aug 19), giving it a market capitalisation of RM205.33 million. The stock has declined 23.85% since the beginning of the year.
http://www.theedgemarkets.com/article/aax-slips-back-red-4q-rm65252-mil-net-loss
Singapore Investment
-
-
-
-
-
-
-
-
-
-
-
How to de-stress?6 hours ago
-
-
-
-
-
-
-
-
-
CICT 1Q2024 Business Updates21 hours ago
-
-
-
-
-
-
-
-
-
-
-
Keyboarding Warriors2 days ago
-
-
-
-
Cory Diary : Portfolio updates3 days ago
-
What, Me Worry?3 days ago
-
-
-
-
Weekly Markets Outlook3 days ago
-
-
-
Portfolio Update4 days ago
-
-
-
-
-
-
-
-
-
-
-
Beware Of Scams5 days ago
-
-
-
Buying a home for face6 days ago
-
-
-
-
-
-
-
Finance Investment Movement 441 week ago
-
-
Market indeed coming down1 week ago
-
-
-
-
-
-
Banks and Miles Report – Mar 20242 weeks ago
-
-
Revisiting Bitcoin2 weeks ago
-
-
-
-
2024 (Portfolio Update)2 weeks ago
-
-
-
Retirement Journey Update for March 20243 weeks ago
-
-
-
1Q 2024 Investment Strategy Update3 weeks ago
-
-
Portfolio Summary for March 20243 weeks ago
-
-
-
Portfolio (March 30, 2024)3 weeks ago
-
-
-
QAF #77 - 2023 Annual Report3 weeks ago
-
Lentor Hills Residences4 weeks ago
-
Burnt out!4 weeks ago
-
-
-
Feb 2024 Expenditure4 weeks ago
-
-
Starting Our Second Property Cycle5 weeks ago
-
-
-
-
-
-
-
Feb 2024 Portfolio1 month ago
-
-
Summary of February 20241 month ago
-
The Market Is A Scam!1 month ago
-
-
-
-
-
-
-
-
Options Trading Journal Jan 20242 months ago
-
-
-
-
-
-
-
End of 2023 Review3 months ago
-
-
Year 2023 DIYQuant Portfolio Performance Report3 months ago
-
Monthly Summary of November 20234 months ago
-
3 Simple Poker Strategies for Beginners4 months ago
-
Migration of website4 months ago
-
-
Abandon REITS?5 months ago
-
-
-
-
-
-
-
-
-
August 2023 Portfolio Updates7 months ago
-
-
-
-
Hello SP Group, I'm Back!9 months ago
-
-
-
-
A New Light11 months ago
-
-
-
-
-
-
-
Demoralized1 year ago
-
2022 Thoughts, Hello 2023!1 year ago
-
Series of Defaults for Maple Finance1 year ago
-
Takeaways from “Sea Change”1 year ago
-
-
Greed is Coming Back1 year ago
-
-
-
-
-
-
-
-
-
-
-
What is Overemployment1 year ago
-
-
-
-
-
-
-
-
-
-
-