Malaysia’s AirAsia Group posts smaller Q1 losses – News 24-7 Live News 24-7 Live
Malaysia’s AirAsia Group posts smaller Q1 losses

Malaysia’s AirAsia Group posts smaller Q1 losses

KUALA LUMPUR: A first-quarter net loss at Malaysian flagship budget airline AirAsia Group narrowed 4.5 per cent, primarily dragged down by depreciation in leased assets and interest on lease liabilities, a stock exchange filing on Thursday (May 27) showed.

However, the airline which marked its seventh consecutive quarterly loss, saw fair value gains on derivatives and said it had successfully negotiated for deferrals with lessors.

The airline reported a 767.4 million ringgit (US$185.4 million) net loss for the January-March quarter compared with 803.8 million ringgit in losses a year ago. The performance superseded the 234 million ringgit net loss an analyst forecast on Refinitiv.

News Source : CNA News

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