AirAsia’s Q3 net loss widens to RM887m | Malay Mail

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KUALA LUMPUR, Nov 22 — AirAsia Group Bhd’s net loss widened to RM887 million for the third quarter ended Sept 30, 2021 (Q3 FY2021) from RM851.78 million in the same period last year. Revenue also shrank by 37 per cent to RM295.9 million from RM468.9 million previously following the flight...

KUALA LUMPUR, Nov 22 — AirAsia Group Bhd’s net loss widened to RM887 million for the third quarter ended Sept 30, 2021 from RM851.78 million in the same period last year.

In a filing with Bursa Malaysia, AirAsia however said the lower airline revenue was cushioned by its logistics arm, Teleport, as its revenue in Q3 2021 had tripled compared to the same period last year. “The group continues with its cost-containment measures, including the right-sizing of manpower and salary cuts for management, staff and directors while actively managing its capacity to be in line with demand for the aviation segment,” it said.

Meanwhile, Airasia superapp reported negative earnings before interest, taxes, depreciation, and amortisation of RM79.2 million for Q3 2021, primarily driven by investment cost to accelerate the expansion of its ecosystem and development of technology for food delivery platform and unified search.

 

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