KUALA LUMPUR (Aug 19): AirAsia X Bhd (AAX) closed its financial year 2022 (FY22) on a negative note as it slipped back into the red in its fourth quarter ended June 30, 2022 (4QFY22) with a net loss of RM652.52 million. It was profitable in the preceding quarter (3QFY22), when it made a net profit of RM33.62 billion after writing back a similar amount to profit following the completion of the group's debt restructuring. The revenue of AirAsia Aviation Group's low-cost long-haul affiliate dropped to RM107.18 million in 4QFY22 from RM113.01 million in 3QFY22, its Bursa Malaysia filing showed. As travel restrictions gradually relaxed across the region, AAX said it has started operations to Incheon, Seoul and Delhi. AAX shares finished half a sen or 1.02% higher at 49.5 sen on Friday (Aug 19), giving it a market capitalisation of RM205.33 million.

Source: The Edge Markets August 20, 2022 00:27 UTC