AirAsia loss narrows even as lockdowns linger

AirAsia loss narrows even as lockdowns linger

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


User: KiniTV

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Uploaded: 2021-09-09

Duration: 00:58