There is finally some good news from this low-cost airline after it released its earnings report.
AirAsia X Bhd unexpectedly recorded a net profit of RM153.48 million in the sixth quarter for the financial period ending 31 December 2022.
For information, the group's financial year has been changed from 31 December 2020 to 30 June 2021, so there will be no comparative figures for the reading due to the absence of information for the previous year.
It is understood that the recorded strengthening is largely driven by the completion of debt restructuring in the first quarter of 2022.
As a result, AirAsia X's net profit in a cumulative period of 18 months recorded an extraordinary record of RM32.98 billion.
In addition, the revenue recorded in the sixth quarter also increased stronger by RM339.29 million from RM100.1 million in the fifth quarter of 2022.
This follows expectations and continued demand for international air travel in the region which pushed the average base fare in the quarter to a record high of RM866.
Following this encouraging report, AirAsia X shares rocketed almost 40% to 95 sen per share at the opening of trading this morning (Wednesday).
It later pared gains to rise 26.47% and traded at 85 sen with a market value of RM356.74 million (as of 2.30pm).
