Skip to content
Grazia British
AirAsia owner Capital A swings to annual loss on forex losses, expects profitability in 2025

AirAsia owner Capital A swings to annual loss on forex losses, expects profitability in 2025

By Swedan Margen

Fashion

Capital A swung to an attributable loss of RM475.1 million (US$106.5 million) in 2024, from a profit of RM255.3 million in the previous year

MALAYSIA’S Capital A Berhad, owner of budget airline AirAsia, swung to an annual loss on Friday (Feb 28) due mainly to foreign exchange losses, but the company said it would return to profitability this year.

Capital A swung to an attributable loss of RM475.1 million (S$143.6 million) in 2024, from a profit of RM255.3 million in the previous year.

That was largely due to RM1.4 billion in one-off forex losses, which also caused the company’s fourth-quarter loss to swell to RM1.57 billion from RM345.3 million a year ago.

However, the company said it expects to post earnings before interest, taxes, depreciation and amortisation (Ebitda) from continuing operations of between RM500 million and RM600 million this year.

That is a significant turnaround from an Ebitda loss from continuing operations of RM663.2 million in fiscal 2024. REUTERS

Share with us your feedback on BT's products and services

Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

More Fashion