Friday 29 Mar 2024
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KUALA LUMPUR (Feb 22): AirAsia X Bhd (AAX) shares fell 8.62% in active trade this morning after the group recorded its first loss-making year since 2015.

At 9.22am, AAX fell 2.5 sen to 26.5 sen with 20.66 million shares traded.  

AAX, whose co-founder Tan Sri Tony Fernandes expects 2019 to be its best-ever year, posted a net loss of RM99.27 million or 2.4 sen per share for the fourth quarter ended Dec 31, 2018, a contrast to net profit of RM84.42 million or two sen per share in the previous corresponding quarter.

Quarterly revenue dropped 5.93% to RM1.15 billion from RM1.22 billion previously.

For the full year, AAX posted a net loss of RM312.7 million or 7.5 sen a share, against a net profit of RM98.89 million or 2.4 sen a share last year.

Annual revenue was almost flat at RM4.54 billion, from RM4.56 billion in the previous year.

This is AAX’s first loss-making year since 2015.

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