Malaysia’s AirAsia X reports record quarterly loss of $5.9bln

Malaysia’s AirAsia X Bhd  posted a record quarterly loss of $5.9 billion, eight times more than a year ago, as it made provisions for an amount payable to creditors, it said on Monday.

The quarterly loss was the ninth in succession for the airline, an affiliate of AirAsia Group Bhd .

The net loss for the April-June period widened to 24.6 billion ringgit ($5.88 billion), from a 305.2 million ringgit loss a year ago.

Revenue dropped 20.9% to 72.3 million ringgit, versus 91.4 million ringgit.

The airline said it made provisions of 23.8 billion ringgit to its creditors during the quarter.