that bad ah?

Of course ...this is exactly the business modal of an airline company.

Leverage, leverage and more leverage.....

Can it high continued leverage sustain forever?

Right now, already 12 billion debts in the hole...
By the time all aircrafts taken delivery...
We are looking at 90 billion plus debts...
Billion dollar leveraging....this is a national sport now?
PS: Usd 300 million bond funding?
Where all their banks?

Eh?
From what I am told...
financial costs/interest cost is deducted from revenue to get profit...
So I am not too sure about your interest cost > profit point.

The current/recent quarter...
AirAsia returned to profits but it was boosted by a 320 million gain arising from their disposal of their travel company....
Minus that out....
They should have recorded losses....