News
AirAsia parent, Capital A, reports interim 2024 loss
September 2nd 2024
Capital A, parent company of AirAsia group airlines, has recorded a net loss of 545.7 million ringgit (US$126 million) for the six months to June 30 compared with net profit of 703.4 million ringgit in first half 2023. Read More » Revenue jumped 77.9%, to 10.1 billion ringgit, Capital A wrote in a regulatory filing and said the loss was “primarily due” to 403.9 million ringgit in unrealized foreign exchange losses and about 175 million ringgit in finance and depreciation costs related to non-operating aircraft. Capital A aviation group CEO, Bo Lingam, said the number one priority was to have more aircraft flying again. “We have been operating under challenging conditions, with limited aircraft availability due to delayed deliveries and a tight supply of spare parts,” Lingam said. “We plan to launch 21 new routes in the third quarter, with spillover benefits extending into the fourth quarter, coinciding with peak travel periods and year-end festivities.”
