News
AirAsia group forecasts 100% return to flying by mid-2023; Capital A posts US$208 million quarterly loss
August 29th 2022
Capital A has reported a net loss of 931.2 million ringgit (US$208.4 million) for the three months to June 30 compared with a 580.1 million ringgit net loss in the same quarter in 2021. Read More » Revenue was up 277%, to 1.5 billion ringgit, Capital A has informed the Bursa Malaysia stock exchange. “The V-shaped recovery of the travel industry and economy, which we anticipated, has significantly benefited our airline and non-airline businesses,” Capital A CEO, Tan Sri Tony Fernandes, said. “We also will be taking delivery of new A321neo from 2024.”
Capital A president for airlines and AirAsia Aviation Group CEO, Bo Lingam, said the company’s strong revenue growth reflected the reopening of international borders in core operating countries and less stringent travel restrictions in many key markets. The group's airlines operated 65 aircraft in the quarter compared with 15 in the previous corresponding months. “As of August, 108 of our operating aircraft have returned to the skies and this number is forecast to reach 160 by year-end to support strong and growing consumer demand,” Lingam said. “We expect to return to full operations by the second quarter of 2023.”
