Malaysia’s AirAsia Reports Deeper Loss in Q3 Amid Lower Revenue, Forex Losson November 23, 2021 at 7:54 pm

Malaysian budget airline AirAsia Group Bhd said its net loss for the third quarter ended on Sep. 30 widened to 887 million ringgit ($212 million) versus 851.8 million ringgit ($203 million) a year earlier, citing a shortfall in revenue and a foreign exchange loss. Revenue for the period plunged 37 percent to 295.9 million ringgit ($70.47 million) due to lower travel demand amid the lockdown imposed in Malaysia, which has been in effect since January 2021. Its digital businesses, however, reported stronger revenue. AirAsia said its logistic business Teleport had tripled compared to the same period last year, contributing 53 percent to the group’s total revenue. In a stock exchange filing on Nov. 22, AirAsia said that a foreign exchange loss of 216.9 million ringgit ($51.66 million) impacted its financial performance during the quarter, compared to a foreign exchange gain of 44 million ringgit ($10.48 million) in the same period …

Aldgra Fredly

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