KUALA LUMPUR (Reuters) – AirAsia X Bhd needs creditors’ support to ride out the coronavirus crisis, the Malaysian long-haul budget airline said on Wednesday, as it posted a quarterly loss and revenue plunge.
The company reported a net loss of 305.2 million ringgit ($73.2 million) for the April-June quarter versus a net loss of 207.1 million ringgit a year earlier.
Revenue tumbled 91% to 91.4 million ringgit, it said in a bourse filing, as air travel was almost brought to a halt by restrictions to control the COVID-19 pandemic.
AirAsia X said it continued to face severe liquidity constraints, and to seek payment deferrals and concessions from suppliers, lessors and lenders. It will also implement further payroll cuts in the next month.
