AirAsia swings to a loss in Q4 on fuel, lease expenses

It posts a loss of RM395 million for the three months to Dec 31 versus a RM372.6 million net profit a year prior to that.

KUALA LUMPUR: AirAsia Group Bhd on Wednesday said it flipped to a net loss for the fourth quarter, sinking deeper than market expectations, as escalating fuel prices and operating lease expenses put a dent in its performance.

Malaysia’s flagship budget airline posted a loss of RM395 million for the three months to Dec 31 versus a RM372.6 million net profit a year prior. The result compared with the RM63.2 million loss estimated by one analyst, according to Refinitiv data.Passenger numbers swelled 16% to 12.1 million, trailing a capacity increase of 21%.

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