I wrote before:
".... its 2014 loss is 1.3 times the amount the company wants to raise through its rights issue. The obvious question would be: how long will the rights issue last? The company still has not shown a single year of profit (corrected for one-off items and deferred tax)."
AirAsia X announced today another large quarterly loss, RM 126 Million this time.
The company will soon receive the much needed RM 391 Million cash from it's rights issue.
But how long will that last?
After taking out the deferred tax assets (which I think it never should have counted in the first place), the company lost RM 1.07 Billion over its life time.
And then, there are capital commitments running in the tens of Billions:
How is this going to end?