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flee

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  1. AIRASIA X 1Q20 Financial Results Unprecedented — COVID-19 Impacts Airlines SEPANG, 30 JULY 2020– AirAsia X Berhad (“AirAsia X” or “the Company”) today reported its financial results for the First Quarter of 2020 (“1Q20”). The Company reported a revenue of RM924.1 million during the quarter, 21% lower year-on-year (“YoY”) from RM1.17 billion charted in the same period in 2019. This came as seat capacity and the total number of passengers carried decreased on the back of the COVID-19 outbreak. During 1Q20, a total of 1,141,713 passengers were carried, down by 25% YoY from 1,512,546 passengers carried during the first quarter of 2019 (“1Q19”), while seat capacity was cut by 15% YoY to 1,544,121 as travel restrictions and border controls lead to a drop in travel demand. In January 2020, the Company was charting profits at an operating level, which serves as a testament to the network rationalisation efforts undertaken since 2019. It was only since February 2020 during the onset of COVID-19 that the demand for air travel was impacted. More: http://airasiax.listedcompany.com/newsroom/Press_Release_1Q20-.pdf Bursa Malaysia Filing: http://airasiax.com/misc/qr/Quarterly_Announcement_1Q2020.pdf Investors' Presentation: http://airasiax.com/misc/qr/presentation_slide_1Q2020.pdf
  2. AAX reports 32.9% deviation between FY19 audited and unaudited net loss KUALA LUMPUR (July 30): AirAsia X Bhd (AAX) recorded a wider audited net loss of RM650.32 million for the financial year ended Dec 31, 2019, compared with the previously announced unaudited net loss of RM489.48 million for the year, resulting in a 32.9% or RM160.84 million deviation. This was due, among others, to an adjustment to deferred tax assets, which has adversely impacted the deferred taxation line in the income statement by RM178.9 million, AAX said in a stock exchange filing. The deferred tax assets on the balance sheet, AAX said, was dependent upon the ability of the company to generate future taxable profits based on past performance and a reasonable growth rate. https://www.theedgemarkets.com/article/aax-reports-329-deviation-between-fy19-audited-and-unaudited-net-loss
  3. AAX says it won’t be classified as PN17 despite triggering criteria https://www.theedgemarkets.com/article/aax-says-it-wont-be-classified-pn17-despite-triggering-criteria
  4. AirAsia X posts record quarterly loss of RM549m, auditors doubt it can continue as going concern KUALA LUMPUR (July 30): Foreign exchange losses and wrong hedges against higher crude oil prices have pulled AirAsia X Bhd (AAX) into a massive net loss of RM549.7 million for its first quarter ended March 31, 2020 (1QFY20) — the long-haul low-cost carrier’s biggest ever quarterly loss. AAX’s auditor Ernst & Young (E&Y) raised a red flag on its financials. The auditor announced to the stock exchange that there may be “significant doubt” over the carrier’s ability to continue as a going concern in respect to its financial position. Furthermore, the low-cost carrier has been categorised as a Practice Note 17-status company by Bursa Malaysia given that its current liabilities exceeded current assets as at March 31. https://www.theedgemarkets.com/article/airasia-x-posts-record-quarterly-loss-rm549m-auditors-doubt-it-can-continue-going-concern
  5. Singapore Airlines reports S$1.12 billion net loss in Q1 as COVID-19 hits demand https://www.channelnewsasia.com/news/business/singapore-airlines-first-quarter-1-billion-net-loss-covid-19-12973458
  6. A320-251N, AirAsia India, F-WWIM, VT-ATD (MSN 10037) - in storage at CHR AirAsia India A320-251N 10037 F-WWIM / VT-ATD by dn280tls, on Flickr
  7. https://www.jetphotos.com/photo/9796369
  8. Accident: Ethiopian B772 at Shanghai on Jul 22nd 2020, aircraft burned down on apron http://avherald.com/h?article=4da46e92&opt=0
  9. Fernandes vows to keep AirAsia flying https://www.theedgemarkets.com/article/fernandes-vows-keep-airasia-flying
  10. All eyes on AirAsia X’s 1Q2020 results https://www.theedgemarkets.com/article/all-eyes-airasia-xs-1q2020-results
  11. Airbus A330-343 MSN713 9M-XBD Air Asia X ferried 16jul20 KUL-DRS, for P2F-conversion ex M-ABLJ Source: skyliner.de Looks like this is one of the aircraft that was returned to lessor, Stratos Aircraft Management.
  12. British Airways retires entire 747 fleet after travel downturn British Airways has said it will retire all of its Boeing 747s as it suffers from the sharp travel downturn. The UK airline is the world's largest operator of the jumbo jets, with 31 in the fleet. "It is with great sadness that we can confirm we are proposing to retire our entire 747 fleet with immediate effect," a BA spokesman told the BBC. Airlines across the world have been hit hard by coronavirus-related travel restrictions. "It is unlikely our magnificent 'queen of the skies' will ever operate commercial services for British Airways again due to the downturn in travel caused by the Covid-19 global pandemic," the spokesman added. More: https://www.bbc.com/news/business-53426886
  13. FAA Downgrades Pakistan To IASA Category 2 Rating MIAMI – The Federal Aviation Administration (FAA) has announced today that it assigned Pakistan a Category 2 rating as the country does not fulfill its International Aviation Safety Assessment (IASA) program standards. FAA’s IASA assessments rely on International Civil Aviation Organization (ICAO) safety standards and evaluate if a foreign civil aviation meet them. The decision comes a week after the US Department of Transportation (DOT) banned all flights from Pakistan International Airlines (PK) following controversy on fake pilots licenses that has been facing since last month. More: https://airwaysmag.com/airlines/faa-degrades-pakistan-iasa-category-2/
  14. SIA Group passenger carriage plunges 99.3% in June as COVID-19 continues to impact demand SINGAPORE: The Singapore Airlines (SIA) Group recorded a 99.3 per cent year-on-year decline in passenger carriage in June, according to its operating results published on Wednesday (Jul 15). Overall results improved marginally from May despite travel demand continuing to be severely impacted by the COVID-19 pandemic as flights slowly began resuming last month. As border controls and travel restrictions remained in place around the world, overall passenger capacity was cut by 95.1 per cent and the passenger load factor fell to 12.2 per cent, said the group. This was an improvement over May's overall passenger capacity of 96.2 per cent and passenger load factor of 8.6 per cent. SIA's capacity was 94 per cent lower compared to last year's, with only a "skeletal network" of flights in operation, connecting Singapore to 24 metro cities. This was an increase from a capacity of 95.6 per cent and 14 cities in May, as transfers via Changi resumed. More: https://www.channelnewsasia.com/news/business/singapore-airlines-silkair-scoot-june-operating-results-covid-19-12935062
  15. U.S. bans Pakistan International Airlines flights over pilot concerns https://www.reuters.com/article/us-pakistan-airlines-usa/u-s-bans-pakistan-international-airlines-flights-over-pilot-concerns-idUSKBN24A3HV
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