News
AirAsia X reports 77.8% profit shrinkage in quarterly update
November 22nd 2023
Malaysia-listed AirAsia X (AAX) recorded a net profit of 5.6 million ringgit (US$1.2 million) for the three months to September 30 from a net profit of 25.1 million ringgit in the same months in 2022. Read More » Revenue increased 548%, to 648.4 million ringgit, AAX has reported in a regulatory filing. AAX CEO, Benyamin Ismail, said the LCC is on track to have 18 aircraft in its fleet by next month with at least 17 operational. “We remain committed to driving the momentum for full recovery, particularly in fleet activation,” Ismail said. “We are confident the company is well equipped to maximise the upside the market offers in the seasonally busiest travel period ahead.” AAX added the Bursa Malaysia had accepted its application to exit Practical Note (PN17) status. “Substantial efforts were dedicated to this very result and the financial performance we have recorded thus far speaks for itself with five consecutive quarters of profitability,” AAX chair Tunku Dato' Mahmood Fawzy, said.
