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UPDATE 1-Malaysia's AirAsia Q1 loss narrows, weighed by asset depreciation


Expect no fuel hedging losses from Q2
Well prepared to rely solely on domestic operations this year
Obtained approval letters from banks for govt-guaranteed scheme (Adds details, background)
KUALA LUMPUR, May 27 (Reuters) - A first-quarter net loss at Malaysian flagship budget airline AirAsia Group Bhd narrowed 4.5%, primarily dragged down by depreciation in leased assets and interest on lease liabilities, a stock exchange filing on Thursday showed.
However, the airline which marked its seventh consecutive quarterly loss, saw fair value gains on derivatives and said it had successfully negotiated for deferrals with lessors that resulted in 80% reduction in repayment of borrowings and lease liabilities. Fixed costs also fell 54%, it said. ....

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Malaysia's AirAsia Group plans to launch air taxi, drone delivery service


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Malaysia's AirAsia Group looks to diversify


Malaysia’s AirAsia Group looks to diversify
Budget carrier plans to launch air taxi, drone delivery service
Reuters
March 07, 2021
KUALA LUMPUR:
Malaysia’s AirAsia Group Bhd plans to launch an air taxi service and the country’s first drone delivery service as the budget carrier seeks to diversify amid the coronavirus pandemic, the company’s CEO said on Saturday.
As part of the group’s diversification push, it also aims to launch a ride-hailing service next month as Covid-19 continues to hit air travel.
“The air taxi will have a pilot and four seats. At the moment, we have our team working on this upcoming service by AirAsia,” Chief Executive Tony Fernandes said at the Youth Economic Forum 2021, state news agency Bernama reported on Saturday. The service should start operating in about 18 months, Fernandes was quoted as saying. ....

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