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The first A330neo for AirAsia X (Photo: Airbus)

Malaysia’s AirAsia Group Records Narrower First Quarter Loss

Malaysia's flagship low-cost carrier AirAsia Group filed a stock exchange on Thursday (May 27) showing a smaller first-quarter net loss - which marks its seventh consecutive quarter losses - having narrowed by 4.5 percent. This loss was narrower as the airline was able to successfully negotiate with aircraft lessors on debt deferrals, resulting in approximately 80 percent reduction in repayments of borrowings and lease liabilities. The Group posted first-quarter revenue of RM298 million (US$72.0 million), which was higher by 12…