AirAsia X posts wider quarterly loss to RM197mil

Higher expenses: AAX says the average fuel price in the third quarter has increased to US91 per barrel compared with US65 during the same period last year.

PETALING JAYA: AirAsia X Bhd (AAX) saw its net loss in the third quarter ended Sept 30 increasing by almost five times due to a rise in the average fuel price and an impairment of RM138.2mil made on an amount due from a joint venture.

The long-haul budget airline said in a filing wit Bursa Malaysia that its net loss in the third quarter of financial year 2018 (3Q18) jumped to RM197.47mil from a net loss of RM43.3mil a year earlier.