AirAsia and AAX return to the black

AirAsia

PETALING JAYA: Shares of AirAsia Bhd and AirAsia X Bhd (AAX) rose to a eight month high after both the low-cost carriers reported better than expected results and showed clearer signs of a more meaningful turnaround.

While AirAsia returned to the black with a net profit of RM554.2mil in the fourth quarter of financial year 2015, AAX posted a net profit of RM201.58mil in the fourth quarter ended Dec 31, 2015.