Business Round-Up
AirAsia X losses quadruple “Down Under”
December 1st 2014
Long-haul LCC, AirAsia X, a subsidiary of the AirAsia Group, has announced it will trim its Australian network in 2015 after losses from its Australian operations increased to 121.4 million ringgit (US$42 million) in its third quarter, to September 30. Read More » AirAsia X also announced it will slow its aircraft deliveries and allocate the majority of its new planes to its budget associates in Indonesia and Thailand. Malaysia’s The Edge Financial Daily reported last month that AirAsia X told its staff in October their wages and allowances would be paid on a staggered basis because of the “late arrival of incoming funds”. AirAsia X CEO, Asran Osman-Rani, said the airline would announce a new financing plan to put the company on a firmer footing. “We are in a tough position,” he told The Malaysian Reserve. “No two ways about it, but we are fixing it. Tony (Tony Fernandes, AirAsia’s group head) is coming up with a new strategy for the airline. We are not cutting any of the workforce or salaries.”
