Malaysia’s AirAsia posts $12.3-mn Sep-quarter loss on forex fluctuations
Malaysia’s flagship budget airline AirAsia Group Bhd flipped to a loss in its third-quarter, hit by foreign exchange losses and a writedown in the value of currency and interest rate swaps.
It posted on Wednesday a net loss of 51.4 million ringgit ($12.3 million) for the three-month period ended September, from 915.9 million ringgit net profit in the year ago period.
Revenue was 17.5% higher at 3.1 billion ringgit, however.
In a filing to the bourse, it also recorded a depreciation of right of use of asset, and finance costs for lease liabilities during the quarter.
