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KUALA LUMPUR (Reuters) – AirAsia Group Bhd
reported its fifth consecutive quarterly loss on Tuesday when the COVID-19 pandemic took its toll on travel in the third quarter.
Airlines have been hit hard by the coronavirus crisis, which nearly brought air travel to a standstill at its peak earlier this year, forcing many to seek financial help.
Although encouraged by the resumption of domestic travel in Malaysia, Indonesia and the Philippines during the three-month period ending in September, AirAsia said an increase in coronavirus cases in Malaysia and subsequent restrictions had led it to reduce capacity in the country in October and November.
“AirAsia Group looks forward to the gradual reopening of domestic travel and international borders in recognition that air transport provides the connectivity that is essential for the resumption of economic activities,” it said in a statement.
The airline reported a net loss of RM851.8 thousand for the three-month period, up from a net loss of RM51.4 thousand a year ago, while its revenue fell 85.6% to RM442.9 thousand.
AirAsia said it had carried 1.9 million passengers in the third quarter, compared to 13 million in the same period last year, with its load factor, a measure of how full the planes are, dropping 18 percentage points to 66%. .
(Reporting by Liz Lee; Editing by Alexander Smith)
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