The Group recorded a loss before taxation of RM652 million for the quarter under review as compared to a loss before
taxation of RM33,618 million in 2Q22.
- The lodgement of the Sanction Order marks the completion of the debt restructuring process, the company is now
operating with clean Financial Position, where RM33.6 billion of provisions made for default under contracts and liabilities have been forgiven and reversed. - As travel restrictions gradually relaxed across the region, including in Malaysia, the Company has started operations to
Incheon, Seoul and Delhi, India in the current quarter in 2022, and is expected to ramp up its operations by the end of
2022 and early 2023, to Japan, Australia, New Zealand, United Kingdom, Istanbul, Dubai, and Jeddah. The planned
routes have been taken into account on routes with high cargo loads and demand, which will contribute positively
towards the financial of the Company.
AirAsia X said it is currently operating under a high fuel price environment, weakening of Malaysia Ringgit against U.S
Dollar and obtaining regulatory approvals of the routes. The Company also expects the load factor to build gradually as
there are challenges in some of the markets such as the longer Australian VISA application process, travel restrictions in
Japan and Taiwan, and restricted entry into China
