AirAsia Group records 15% revenue decline in 1Q2020 due to travel restrictions

AirAsia Group reported (06-Jul-2020) the following financial highlights from 1Q2020:

• Revenue: MYR2.3 billion (USD537.7 million), down 15% year-on-year, despite a "strong performance" in Jan-2020, due to travel restrictions and border controls;
• ASK reduction of 19%, primarily due to proactive capacity management to mitigate the impact;
• RASK increased by 2% year-on-year in 1Q2020 due to a "better pricing strategy" since 4Q2019;
• Net loss: MYR953 million (USD222.7 million), attributed to a shortfall in revenue amidst impacted travel demand, higher maintenance and overhaul costs. [more - original PR]