AirAsia Shares Drop 30% as Carrier Seeks Payment Deferrals

EarningsCommodity Impact 4

โดย GuruFocus·Read original

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AirAsia X Bhd. shares have fallen more than 30% since the Iran conflict began, as the carrier seeks payment deferrals from suppliers and aircraft lessors. The airline has asked some lessors to delay rental payments on more than 16 planes and missed payments tied to its TotalCare engine-maintenance agreement with Rolls-Royce Holdings Plc, according to people familiar with the matter. The pressure follows AirAsia's biggest quarterly loss in three years, with high debt relative to earnings and equity levels, and comes as higher jet fuel prices weigh on budget carriers. Co-founder Tony Fernandes pushed back against concerns, citing a $230 million private-credit deal from Deutsche Bank AG and a multibillion-dollar deal to buy 150 Airbus SE A220 planes as evidence the company is not in financial trouble.