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AirAsia X flies into loss for 2018

February 21, 2019 / FIRDAUS HASHIM

AirAsia X posted a full-year operating loss of MYR204 million ($50 million) in 2018, reversing last year's operating profit of MYR113 million as flat revenue and higher fuel costs took a hit on the operator. Revenue for the year fell by 0.4% to MYR4.54 billion. Expenses rose 5.9% to MYR4.78 billion, as higher fuel prices offset lower maintenance and aircraft leasing cost.The company also turned in an attributable net loss of MYR313 million, compared to a MYR98.9 million net profit last year.During the final three months of 2018, the budget carrier made an operating profit of MYR33.4 million, a sharp 74% drop from the previous corresponding period.