News
Capital A narrows quarterly loss
December 1st 2023
Capital A, the parent company of the AirAsia group of airlines, has reported a net loss of 178.8 million ringgit (US$38.4 million) for the three months to September 30 2023, compared with a net loss of 901.3 million ringgit in the same three months in 2022. Read More » The result also ended a run of three consecutive profitable quarters for the company. Revenue rose 115.8% to 4.2 billion ringgit, Capital A said in a regulatory filing. The company said its aviation and travel business grew earnings before interest, tax, depreciation and amortisation (EBITDA) by 520% to 448 million ringgit during the quarter. AirAsia Aviation Group CEO, Bo Lingam, said he expected a "profitable end to 2023", while revenue was expected to exceed pre-pandemic levels during the final three months of the year. "This optimistic outlook is based on robust travel demand during the peak season, which enables us to command premium fares and boost ancillary income," Lingham said. "We are amplifying our domestic capacity in all markets especially in Malaysia and Thailand, fortifying our market share and taking advantage of lessening competition."
