AirAsia Group cuts seats as fuel costs drive RM527m quarterly loss
KUALA LUMPUR, Aug 13 — AirAsia Group Bhd, formerly known as AirAsia X Bhd, posted a net loss of RM527.16 million f...
AirAsia Group, formerly AirAsia X, announced a significant net loss of RM527.16 million for the second quarter of FY2026, attributing the downturn largely to rising fuel costs and currency depreciation. Revenue for the quarter totaled RM5.08 billion as reported in a filing with Bursa Malaysia. The firm recognized a substantial foreign exchange loss of RM330.97 million, owed to the weakening of regional currencies against the US dollar.
Aircraft fuel expenses reached RM2.80 billion, while maintenance and overhaul costs amounted to RM537.34 million and user charges to RM506.51 million. For the six-month period ending June 30, 2026, the company reported a net loss of RM682.04 million on revenue of RM11.03 billion. The reverse acquisition of AirAsia by AirAsia Aviation Group Ltd is not reflected in interim financial statements, as per notes 1b and 2.1.
AirAsia Group anticipates cutting seat capacity by 20-25% year-on-year in Q3 2026 and accelerating fleet optimization by returning 25 older, less fuel-efficient aircraft to lessors. The group remains cautious due to geopolitical instability and volatile energy markets, with jet fuel prices exceeding US$140 a barrel. The board has not recommended any dividend for the quarter.
AirAsia Group, now the enlarged holding company for AirAsia businesses post-acquisition, changed its name from AirAsia X to AirAsia Group effective July 2, 2026.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
