February 27, 2020 / 10:53 AM / a month ago

BRIEF-Airasia X Posts Qtrly Net Loss Of 95.8 Million RGT

Feb 27 (Reuters) - AirAsia X Bhd:

* QTRLY REVENUE 1.20 BILLION RGT

* YEAR AGO QTRLY REVENUE 1.15 BILLION RGT, YEAR AGO QTRLY NET LOSS 88.1 MILLION RGT

* FORESEES MAJOR CHALLENGES IN THE FIRST HALF OF 2020 POSED BY THE RECENT CORONAVIRUS OUTBREAK

* VIRUS OUTBREAK HAS HAD AN ADVERSE IMPACT ON THE SALE OF PASSENGER TICKETS AT AAX

* FARES ARE EXPECTED TO BE UNDER PRESSURE FOR THE NEXT COUPLE OF MONTHS

* PASSENGER BOOKINGS IN FORWARD MONTHS ALSO TRENDING LOWER AS A RESULT OF THE OUTBREAK

* SALES ALSO IMPACTED IN JAPAN, KOREA AND AUSTRALIA, CO TO TO BEAR COST OF TICKET REFUNDS FOR PASSENGERS WHO CANCELLED FLIGHTS TO CHINA

* WILL LAUNCH EXTENSIVE PROMOTIONAL CAMPAIGNS AND REDEPLOY CAPACITY INTO OTHER CORE MARKETS

* CO HAS HEDGED 80% OF ITS FUEL REQUIREMENT FOR 1Q 2020 AT AVERAGE BRENT HEDGE PRICES OF US$59.8/BBL

* FOR REMAINDER OF YEAR, HAS HEDGED 72% OF FUEL REQUIREMENT AT AVERAGE BRENT HEDGE PRICES OF USD$59.6

* “ACTIVELY MONITORING ALL OPERATIONAL COSTS AS WE EXPECT THE HEADWINDS TO PERSIST”

* DOUBLING EFFORTS TO REVIEW AREAS WHERE CO CAN IMPROVE ITS CASH FLOW AND FUTHER CUT COSTS Source text here Further company coverage: (Reuters.Briefs@thomsonreuters.com)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below