Airasia Group Bhd registered a drop in its net loss to RM580.06 million in the second quarter ended June 30, 2021 from RM992.89 million in the same period last year. – The Malaysian Insight file pic, September 8, 2021.
AIRASIA Group Bhd saw its net loss narrowed to RM580.06 million in the second quarter ended June 30, 2021 from RM992.89 million in the same period last year, primarily due to the absence of fuel swap losses and gains in foreign exchange. Revenue jumped to RM370.61 million from RM142.09 million, driven by better cargo revenues, it said in a filing to Bursa Malaysia.
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Looking at the details, one would realized that AirAsia remains technically bankrupt with negative shareholders' funds. Owes customers more than RM900mil and the tech ventures are bleeding. So called US$100mil 'investment' from SK Group is actually a convertible note.