(Reuters) – Malaysia’s Capital A Berhad, owner of budget airline AirAsia, swung to an annual loss on Friday due mainly to foreign exchange losses, but the company said it would return to profitability this year.
Capital A swung to an attributable loss of 475.1 million ringgit ($106.5 million) in 2024, from a profit of 255.3 million ringgit in the previous year.
That was largely due to 1.4 billion ringgit in one-off forex losses, which also caused the company’s fourth-quarter loss to swell to 1.57 billion ringgit from 345.3 million ringgit a year ago.
However, the company said it expects to post earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations of between 500 million ringgit and 600 million ringgit this year.
That is a significant turnaround from an EBITDA loss from continuing operations of 663.2 million ringgit in fiscal 2024. ($1 = 4.4600 ringgit)
(Reporting by John Biju in Bengaluru; Editing by Shailesh Kuber and Savio D’Souza)
