AirAsia Group down after reporting FY20 net loss at RM5.1b

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KUALA LUMPUR (March 30): AirAsia Group Bhd’s share price fell more than 6% in Bursa Malaysia morning trade today after the budget airline reported yesterday that its fourth-quarter net loss widened to RM2.44 billion from a net loss of RM384.44 million a year earlier.

Cumulative net loss for the financial year ended Dec 31, 2020 (FY20) widened to RM5.1 billion from a net loss of RM315.81 million a year earlier, according to AirAsia Group.

On Bursa today, AirAsia Group’s share price fell as much as seven sen or 6.19% to RM1.06 so far.

More to come