AirAsia X’s shares slip on weaker Q3 performance

As at 11.25am, the counter eased half-a-sen to 6.0 sen with 7.63 million shares changing hands. — Reuters pic
As at 11.25am, the counter eased half-a-sen to 6.0 sen with 7.63 million shares changing hands. — Reuters pic

KUALA LUMPUR, Nov 20 ― AirAsia X Bhd’s (AAX) shares on Bursa Malaysia has declined slightly in the early trading session today, as the group reported that its third quarter net loss ended September 30, 2020 has widened to RM308.46 million.

As at 11.25am, the counter eased half-a-sen to 6.0 sen with 7.63 million shares changing hands.

The closure of international borders due to the Covid-19 pandemic dragged the long-haul carrier’s revenue down by 94 per cent to RM59.91 million during the quarter under review from RM1.01 billion previously, it said in a filing with Bursa Malaysia yesterday.

For the cumulative nine-month period for 2020 (9M2020), AAX’s net loss ballooned to RM1.16 billion against RM393.67 million in 9M2019, while revenue shrank to RM1.08 billion from RM3.20 billion previously, the airline said. ― Bernama

Related Articles