Financial Round Up
AirAsia posts $96 million third quarter loss
November 27th 2015
Tony Fernandes’ AirAsia Berhad has reported a net loss of 406 million ringgit ($96 million) for the third quarter ended September 30, having made a net profit of 5.4 million ringgit in the year-ago period. Read More » It blamed foreign exchange losses, losses incurred by its Indonesian and Filipino associates, and one-off costs related to the sale and leaseback of aircraft.
However, Fernandes sees this as a temporary setback for the Malaysia-based main airline, saying he “sees a great end to the year and a light at the end of the tunnel for the Malaysian operations after a series of headwinds that affected operations”.
