Capital A consolidated group posted 1Q2022 revenue of RM812 million, up 153% year-on-year and down by 1% quarter-on-quarter comparison. Aviation revenue grew significantly by 226% yoy and 5% qoq to RM601 million off the back of the improved demand during the festive season together with the further easing of travel restrictions in 1Q2022.
The Group’s logistics arm, Teleport reported considerable revenue growth of 58% YoY to RM147 million. Digital businesses consisting of airasia Super App and BigPay reported robust revenue growth of 46% YoY. The aviation, logistics and digital businesses have contributed 74%, 18% and 8%, respectively of the total revenue in 1Q2022.
Overall, the group’s EBITDA was RM309 million which improved by 12% and Net Loss Before Tax was RM1.07 billion. The strong improvement in revenue was offset by a number of factors which are mainly attributed to higher fuel and maintenance costs, as well as larger recognition of losses from associates.
Commenting on the performance, Tan Sri Tony Fernandes said “the world is reopening and travel restrictions are subsiding in all of our core markets. These will significantly benefit both our airlines and non-airline businesses. We are preparing to recall remaining furloughed staff amid an expected earnings recovery.”
“In addition Capital A received a clean audit opinion by our auditors Ernst & Young denoting Capital A’s ability to continue business for the foreseeable future. The auditors’ previous opinion of “Material Uncertainty Related to Going Concern” on Capital A is now removed. We are confident of exiting PN17 following today’s board meeting.