AirAsia Q3 net loss at RM405mil

Dollar factor: An AirAsia office in Sepang. The strategies that AirAsia had deployed to increase cash and improve net gearing were working but the airline was affected by the strengthening US dollar. – Reuters

PETALING JAYA: Budget airline operator AirAsia Bhd posted a net loss of RM405mil for the third quarter ended Sept 30 on higher foreign exchange losses as well as losses suffered by its Indonesian affiliate.

However, operating profit rose 58% to RM316mil in line with strong sales over the period as travel activity peaked during the festive celebrations in August.