The carrier said from an operational perspective, it continued to operate cargo and charter flights during 3Q22 and generated RM113mil in revenue. This was a marginal reduction of RM3.4mil or some 3% compared to the previous quarter.
PETALING JAYA: AirAsia X Bhd
(AAX) posted a whopping RM33.62bil in net profit in the third quarter ended March 31 (3Q22) as the carrier completed its debt restructuring exercise which saw a write-back.
Its revenue for the quarter under review stood at RM113.01mil.
After excluding the provision write-back, AAX recorded a loss before interest, tax, depreciation and amortisation of some RM6.08mil.
For the nine months ended March 31, 2022, AAX posted a net profit of RM33.46bil on a revenue of RM331.59mil.
In a filing with Bursa Malaysia, the long haul budget carrier said its financial year had been changed to June 30 from Dec 31.
As such, there is no comparative financial information available for the same quarter last year.
For the immediate preceding quarter (2Q22), AAX posted a net loss of RM11.94mil on a revenue of RM119.31mil.
The company said the debt restructuring exercise took effect upon lodgement of the sanction order with the Registrar of Companies on March 16.
“The lodgement of the sanction order marks the completion of the debt restructuring process, a fact which is reflected in the financial statements for the quarter where RM33.6bil of provisions made for default under contracts, and liabilities which have been forgiven have been reversed,” AAX said.
The carrier said from an operational perspective, it continued to operate cargo and charter flights during 3Q22 and generated RM113mil in revenue.
This was a marginal reduction of RM3.4mil or some 3% compared to the previous quarter.
“Cargo operations have been adversely impacted by the recent lockdowns imposed in China, and a decline in cargo yields as more capacity comes back online, but the company continues to seek to diversify its cargo customer base to support cargo revenues in the future,” said the carrier.
Its stock closed down half a sen or 0.89% to 55.5 sen, valuing the entire group at RM230.22mil. Year-to-date, shares in the group have fallen almost 15%.
