Capital A Berhad, AirAsia’s parent, swings to a RM475.1 million ($106.5 million) attributable loss for FY24—reversing RM255.3 million profit—primarily from RM1.4 billion one-off forex losses in aviation amid ringgit strengthening, with Q4 deficit ballooning to RM1.57 billion from RM345.3 million, per the February 28 report projecting EBITDA RM500–600 million from continuing ops in FY25 turnaround. The loss layers: Revenue dipped 2.1% to RM15.8 billion on 4.5% passenger growth to 4.3 million, costs up 5.6% to RM1 billion on employee hikes and ops, yet NPL ratio improved to 4.2% from 5.1% with provisions down to RM0.41 billion.
The lineage: Q1’s 13.5% profit plunge to RM4.86 billion on 9.1% NII dip to RM7.2 billion (18% deposits outpacing loans), non-funded income 28% revenue amid 15% trade slowdown. Bursa approval of March 2025 regularization and High Court confirmation of share capital reduction/repayment as Proposed Distribution mark milestones, with 20-year dream shaping Asean travel via gateways/getaways.
This loss unveils not year’s yield, but ambition’s durable dance—veiled veils of RM475M from forex‘s flux, where aviation’s artistry yields reinvention’s radius in Capital A‘s majestic march.
