News
Capital A records US$205.5 million quarterly loss
May 27th 2022
Capital A has reported a net loss of 903.8 million ringgit (US$205.5 million) for the three months to March 31 compared with a net loss of 767.4 million ringgit in the same months in 2021. Read More » Revenue rose 152.8%, to 811.8 million ringgit, Capital A has informed Bursa Malaysia. The company, formerly branded AirAsia Group, said despite the resumption of operations and an increase in capacity, improved revenue for the quarter was partially offset by higher operating costs, particularly for fuel and maintenance, and larger recognition of losses from associates. “After two long years of the pandemic, the worst is now over and we are returning stronger and better,” Capital A CEO, Tony Fernandes, said. “The world is reopening and travel restrictions are subsiding in all of our core markets. This will significantly benefit our airlines and non-airline businesses. We are preparing to recall remaining furloughed staff amid an expected earnings recovery.”
