AirAsia loss narrows even as lockdowns linger

AirAsia Group says losses narrowed in the second quarter.

The Malaysia-based airline saw revenue jump by 160%, boosted by cargo revenues.

That helped cut its net loss to about $140 million - not much more than half the figure this time last year.

The improvement comes despite enhanced lockdowns in its home market.

But it expects performance to improve there - and at its Thai and Indonesian units - as travel restrictions ease over the coming months.

AirAsia says it continues to seek cost cuts, including reductions to headcount and salaries.

It's also talking to lessors over the lease terms for its jets.

Chief Executive Tony Fernandes says the company now has sufficient liquidity to see it through this year and next.

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