AirAsia’s logo and the Airasia Super app under capital A are shown in this illustration taken March 7, 2022. REUTERS/Florence Lo/Illustration
Aug 26 (Reuters) – Capital A Bhd ( CAPI.KL ), parent of Malaysian budget airline AirAsia, reported a narrower second-quarter operating loss on Friday as travel demand in Southeast Asia began to recover after easing pandemic-related rules were
The company said its future looks positive, driven by momentum in sales and lifting of travel restrictions worldwide.
Capital A said it would take all possible measures to return its grounded fleet back into service, with an estimate to have 160 operational aircraft by the end of 2022, and full operations in the second quarter of 2023.
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Capital A posted an operating loss of 491.3 million ringgit ($110.03 million) for the three months ended June 30, compared to a loss of 792.2 million ringgit in the year-ago period.
The company reported last month its airline load factor, a measure of the percentage of seats filled, rose to 84% in the second quarter, similar to pre-pandemic levels. Read also : Lufthansa will return to full-year profit as travel picks up.
Passenger numbers increased 633% from a year earlier, supported by growing domestic demand and the resumption of international travel to Southeast Asian countries. Cargo tonnage, however, fell 27% due to extended losses in China.
Kapital A has invested heavily in payments company BigPay, logistics arm Teleport and mobile Super App to diversify its revenue sources.
The company said in June it was evaluating fundraising options for a planned US listing as it looks to shake off its classification as a financially distressed company from Malaysia’s stock market.
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Reporting by Tejaswi Marthi in Bengaluru and Jamie Freed in Sydney; Editing by Shailesh Kuber Read also : Netflix partners with Microsoft on ad-supported subscription plan.
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Which airline is best for cabin crew in India?
Top Companies for Flight Attendants in India To see also : Germany is on the brink of recession, says Ifo, as business sentiment worsens.
- Etihad Airways. 4.1. £81,629. 909 reviews21 salaries reported.
- Deutsche Lufthansa AG. 4.1. £43,523. 389 reviews19 salaries reported.
- GoAir. 3.9. £43,174. 121 reviews6 salaries reported.
- Jet Airways. 4.1. £35,098. 762 reviews5 salaries reported.
- Airport Authority of India. 4.2. £34,723.
Which Indian Airlines Pays Highest Salary? The highest paying job in Air India is a Captain with a salary of â¹ 73.3 Lakhs per annum.
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