AAX posts Q3 net profit of RM5.56mil on higher revenue of RM648.36mil.
PETALING JAYA: Bursa Malaysia has approved AirAsia X Bhd
’s (AAX) application for the upliftment of its Practice Note 17 (PN17) status, which takes effect from today.
In a filing with Bursa Malaysia yesterday, the airline company said it had been granted an appeal by the local bourse for the upliftment of its PN17 status if it fulfilled certain conditions.
This included the company announcing a net profit attributable to its equity holders in its latest quarterly results.
AAX announced its third-quarter earnings for the period ended Sept 30 yesterday.
“The upliftment of AAX from being classified as a PN17 company will come into effect on the next market day after fulfilment of the condition,” it said.
In a separate filing yesterday, AAX said its net profit for the third quarter ended Sept 30, 2023 was lower at RM5.56mil from RM25.09mil in the previous corresponding period, while revenue jumped to RM648.36mil from RM100.10mil a year earlier.
Basic earnings per share stood at 1.20 sen versus 6.00 sen previously.
“As a whole, the group’s recovery strategy remains on track. Moving into the final and busiest quarter for the international travel industry, the group expects its trajectory to sustain, ensuring the viability of its earnings,” it said.
Bursa Malaysia rejected AAX’s application for PN17 upliftment on Oct 19, 2023 and provided an extension until Jan 17, 2024, to submit a regularisation plan.
AAX had submitted an application for upliftment on July 20, 2023, citing improved financial performance.
