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AirAsia posts worst ever net loss
AirAsia Group posted an annual loss of more than $1 billion in FY 2020, with Q4 revenue down a record 92%.
The pandemic continues to adversely affect the business with the focus stll on ‘resuming limited domestic operations’ in the Southeast Asian countries it serves, such as Malaysia, Indonesia, Thailand and the Philippines.
Q4 seat capacity was still down 88% compared to 2019 levels, it said in a stock market filing. The group is still in the middle of restructuring payments to lessors, suppliers and other partners, and is restructuring its fuel hedging positions.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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