AirAsia X share price slips to record low after massive quarterly loss

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KUALA LUMPUR (Nov 19): AirAsia X Bhd’s (AAX) share price plunged 5.5 sen or 7.85 % to a historical low of 64.5 sen this afternoon after it reported a quarterly loss of RM210.9 million.

Year-to-date, AAX’s share price has shed 34 sen or 34.2%.

The long-haul low-cost carrier is the fourth most actively traded stock on Bursa Malaysia in the afternoon trading session, with close to 58.5 million shares traded.

Selling pressure emerged after AAX reported a net loss of RM210.9 million for the third quarter ended Sep 30, 2014 (3Q14), compared with net profit of RM26.4 million for the same quarter a year ago.

For the nine-month period, AAX registered a net loss of RM350.92 million. Its basic loss per share sunk along with these results to 8.9 sen.

AAX’s financial performance  recently made headlines after The Edge Financial Daily reported that the company is having trouble paying wages and allowances for staff.