RM5bil impairment a drag on AirAsia X results

AAX undertook the multi-billion-ringgit impairment after it had completed the assessment on the recoverability of its assets in light of the ongoing Covid-19 pandemic and the airline’s restructuring process.

PETALING JAYA: AirAsia X Bhd (AAX) has clocked another quarter of losses as it undertook an impairment of assets worth RM5.28bil, in accordance with accounting standards.

This caused the airline, which has repositioned itself as a medium-haul budget carrier, to suffer a net loss of RM5.67bil in the January-March 2021 quarter, against a total revenue of RM38.5mil.