LOW-cost carrier AirAsia Group Bhd and its long-haul affiliate AirAsia X Bhd (AAX) — the only two listed airlines on Bursa Malaysia — are set to join most of their counterparts around the world in reporting their biggest-ever annual losses this week for what has been described as the “worst year in history for air travel demand”. AirAsia is likely to post a record net loss of no less than RM3 billion in the financial year ended Dec 31, 2020 (FY2020), according to analyst estimates provided by Bloomberg. In fact, CGS-CIMB Research is expecting AirAsia’s core net loss for FY2020 to come in at RM5.46 billion. That’s the highest estimate among the analysts.