Malaysia's AirAsia X falls to Q1 loss on pandemic impact

Malaysia's AirAsia X Bhd fell to a net loss in its first quarter, a fourth straight quarterly loss as the pandemic slowed air travel demand. The long-haul arm of AirAsia Group Bhd recorded a net loss of 549.7 million ringgit ($130 million) for the January-March quarter versus a profit of 43.3 million a year earlier. Revenue fell 21% to 924.1 million ringgit.

Malaysia's AirAsia X Bhd fell to a net loss in its first quarter, a fourth straight quarterly loss as the pandemic slowed air travel demand. The long-haul arm of AirAsia Group Bhd recorded a net loss of 549.7 million ringgit ($130 million) for the January-March quarter versus a profit of 43.3 million a year earlier.

Revenue fell 21% to 924.1 million ringgit. Passengers carried fell 25% to 1.14 million and the airline's load factor, which measures how full planes are, shrank 11 percentage points to 74%.

Unit costs rose 16% while unit revenue registered zero growth despite ancillary revenue per passenger growing 8%. ($1 = 4.2370 ringgit)