AAX records 18-month earnings of RM32.9bil

KUALA LUMPUR: AirAsia X Bhd (AAX) is optimistic that the positive results will be sustainable well into the coming quarters.

“The group expects 16 aircraft within its fleet by end of 2023 fully activated and operational to cater to its network growth trajectory in the coming quarters.

“Continuous plans are in place to relaunch scheduled flights, namely Hangzhou, Shanghai; and increase in the frequency of networks, namely Gold Coast, Seoul, and Busan,” AAX said in a filing with Bursa Malaysia.

In the three months to Dec 31, the carrier reported a net profit of RM153.5mil, or 37.00 earnings per share on revenue of RM339.3mil.

AAX’s financial year has been changed from Dec 31 to June 30 June, 2021.

The group has subsequently announced on Aug 18, 2022, the financial year end has been changed to Dec 31, 2022.

As such, there will be no comparative financial information available for the preceding year's corresponding periods.

For the 18 months ended Dec 31, AAX posted a net profit of almost RM33bil, or earnings per share of 7951.20 sen. Its revenue for the period stood at RM878.2mil.

To recap, AAX’s debt restructuring was completed on March 16, 2022 which has resulted in a write back of provisions and forgiveness of liabilities in the period, amounting to RM33.6bil.

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AirAsia X , AAX , debt , restructuring


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