flee 5 Report post Posted July 6, 2020 (edited) The results were delayed due to the Covid-19 chaos! AirAsia posts record quarterly loss, seeks payment deferrals and bank loans to sustain cashflow See: https://www.theedgemarkets.com/article/airasia-posts-record-net-loss-rm804m-1q-no-thanks-wrong-hedge-against-oil-prices-hefty Bursa Filing: https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=210314&name=EA_FR_ATTACHMENTS Press Release: https://newsroom.airasia.com/news/airasia-group-berhad-1q2020-financial-results Edited July 6, 2020 by flee Share this post Link to post Share on other sites
flee 5 Report post Posted July 7, 2020 Airasia Group Investors' presentation: https://ir.airasia.com/misc/1Q20-presentation-airasia.pdf Share this post Link to post Share on other sites
KK Lee 5 Report post Posted July 8, 2020 https://www.theedgemarkets.com/article/airasias-external-auditor-raises-material-uncertainty-relating-going-concern Unless creditors consented, massive capital injection or gomen bailout, ak could falls into pn17. Share this post Link to post Share on other sites
Timothy 1 Report post Posted July 8, 2020 (edited) an unqualified thought, but with the new MAG Chairman could GoM actually be considering a buyout (vs bailout) of AirAsia ? following Petronas model of national monopoly, creating a world class player to compete internationally. Edited July 8, 2020 by Timothy Share this post Link to post Share on other sites
flee 5 Report post Posted July 8, 2020 (edited) 28 minutes ago, Timothy said: an unqualified thought, but with the new MAG Chairman could GoM actually be considering a buyout (vs bailout) of AirAsia ? following Petronas model of national monopoly, creating a world class player to compete internationally. The only way MAG can make it work is to use the same kind of model that IAG uses, i.e. keeping the airline groups separate. A merger of the two airlines into a single entity will probably end in failure. I am not sure how the new Chairman can change things - his position is non-executive. So unless the board redesignates him as executive Chairman, he is just a figurehead. Edited July 8, 2020 by flee Share this post Link to post Share on other sites
jahur 0 Report post Posted July 8, 2020 (edited) AirAsia securities trade suspended pending additional information from company https://www.theedgemarkets.com/article/airasia-securities-trade-suspended-pending-additional-information-company Not entering as PN17 yet. Company needs approx MYR2bil to stay afloat. Noted during MCO a lot of LCCs like AirAsia Group, LionAir and NokAir have not being doing much belly freight operations nor p2p cargo compared to flag carriers in ASEAN. Probably due to limited dangerous goods item and radioactive medical equipment they could carry. Which contributed to poor revenue. Edited July 8, 2020 by jahur Share this post Link to post Share on other sites
flee 5 Report post Posted July 8, 2020 Budget airline AirAsia's future in ‘significant doubt’ https://www.bbc.com/news/business-53331387 Share this post Link to post Share on other sites
flee 5 Report post Posted July 22, 2020 All eyes on AirAsia X’s 1Q2020 results https://www.theedgemarkets.com/article/all-eyes-airasia-xs-1q2020-results Share this post Link to post Share on other sites
flee 5 Report post Posted July 30, 2020 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 Share this post Link to post Share on other sites
flee 5 Report post Posted July 30, 2020 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 Share this post Link to post Share on other sites
flee 5 Report post Posted July 30, 2020 (edited) 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 Edited July 30, 2020 by flee Share this post Link to post Share on other sites
Kenny Sing 0 Report post Posted August 10, 2020 https://www.theedgemarkets.com/article/negative-shareholders-equity-has-market-watching-airasia-xs-next-step i wonder why AAX can't put their A333s for cargo purpose? Share this post Link to post Share on other sites
flee 5 Report post Posted August 10, 2020 5 hours ago, Kenny Sing said: https://www.theedgemarkets.com/article/negative-shareholders-equity-has-market-watching-airasia-xs-next-step i wonder why AAX can't put their A333s for cargo purpose? They are - I see flights to Japan, China and Australia. But there are not that many flights - they reported operating about 150 cargo flights in Q2. Share this post Link to post Share on other sites
Kenny Sing 0 Report post Posted August 11, 2020 i see... guess they haven't stretch their A333 enough for cargo ops in order to reduce the loss by sitting on the tarmac. pity them. Share this post Link to post Share on other sites
BC Tam 2 Report post Posted August 11, 2020 AAX’s capacity plunges 100pc to 6,032 in Q2 from: http://www.dailyexpress.com.my/news/156868/aax-s-capacity-plunges-100pc-to-6-032-in-q2/ Total 2,291 pax in Q2 2020 (undefined how many are fare paying) Averaging slightly above 25 pax per day I'm guessing those numbers are statistically irrelevant given the current environment We are near halfway through Q3 2020 already, wonder how the figures are adding up ?! Share this post Link to post Share on other sites
jahur 0 Report post Posted August 12, 2020 (edited) On 8/10/2020 at 5:24 PM, Kenny Sing said: https://www.theedgemarkets.com/article/negative-shareholders-equity-has-market-watching-airasia-xs-next-step i wonder why AAX can't put their A333s for cargo purpose? AFAIK they are not certified to carry dangerous goods category 10 etc. This involves medical equipment and military equipment, power generators, lithium and so on. So lots of heavy duty items will not be in the cargohold. To be certified for it also involves a lot of money and training and exams set by iata for all tech crew and ground crew to undergo. A lot of lcc and some flag carriers did not went through this. Which explains why some overseas countries are hiring foreign based airlines for cargo charter now. Their very own local airline may not he certified to carry special items. Edited August 12, 2020 by jahur Share this post Link to post Share on other sites
Kenny Sing 0 Report post Posted August 14, 2020 i see.... now it explains. Share this post Link to post Share on other sites
