INQUIRER.net: AirAsia net profit falls nearly 40% in 1st quarter

INQUIRER.net Philippine News for Filipinos

AirAsia net profit falls nearly 40% in 1st quarter May 23rd 2013, 00:28 KUALA LUMPUR—AirAsia, Asia's largest low-cost carrier by fleet size, said Wednesday that first-quarter net profit fell 39 percent year-on-year due to a foreign exchange loss on borrowings.   The airline said in a filing to the Malaysian stock exchange that profit for the three months ending March 31 was 104.79 million ringgit ($34.79 million) compared to 172.44 million ringgit in the same quarter last year.   Revenue for the quarter stood at 1.30 billion ringgit, up 11.3 percent from the same period last year, due mainly to a seven percent increase in passengers, the company said in a statement.   "The company has started off the year strongly, driven b... Keep on reading: AirAsia net profit falls nearly 40% in 1st quarter Media files: air-asia-logo.jpg (image/jpeg)

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