KUALA LUMPUR: AirAsia X Bhd
(AAX) posted a net loss of RM11.94 million for the second quarter ended Dec 31, 2021 (Q2 FY2022) on the again of income of RM119.31 million.
There isn’t any comparative monetary info obtainable for the previous 12 months’s corresponding interval as the group’s monetary 12 months has been modified from Dec 31, 2020, to June 30, 2021.
No dividends had been declared, accepted or paid throughout the quarter below assessment, the lengthy haul, low-cost airline mentioned in a submitting with Bursa Malaysia.
“In the three months to December 2021, the firm earned RM119.4 million in income from cargo and constitution operations, a rise of RM48.5 million or 68 per cent over the earlier quarter, and a rise of RM112.0 million over the similar quarter of 2020, when solely RM7.4 million of income was earned.
“This substantial improve in income is reflective of a brand new deal with rising the cargo enterprise of the firm, a technique which will probably be mixed with the carriage of passengers to make sure that all routes operated are worthwhile on an ongoing foundation,” it mentioned.
AAX mentioned {that a} complete of three plane had been working throughout the quarter.
“As extra plane are progressively introduced again into service, cargo and constitution revenues are anticipated to proceed rising, and will probably be supplemented by income from passenger gross sales when markets reopen,” it mentioned.
For issues referring to the debt restructuring and company restructuring of the firm, it mentioned vital progress had been made in the quarter.
It famous that the High Court accepted its proposed debt restructuring on Dec 16, 2021.
“The proposed debt restructuring will take impact upon lodgment of the sanction order with the Registrar of Companies, anticipated to happen in the coming weeks,” it mentioned.
AAX, which reported a gaggle net loss of RM33.69 million for the 18-month monetary interval to June 30, 2021, grew to become a Practice Note 17 issuer in October final 12 months after its exterior auditors expressed a disclaimer of opinion in the firm’s audited monetary statements for the 18-month interval.
The airline continued to be in the red in the first monetary quarter ended Sept 30, 2021, reporting a net loss of RM149.14 million.
At the shut in the present day, AAX shares rose 3.88 per cent to 54 sen with 865,900 shares altering arms. – Bernama
