KUALA LUMPUR (Reuters) - A first-quarter net loss at budget airline AirAsia Group Bhd narrowed 4.5%, primarily dragged down by depreciation in leased assets and interest on lease liabilities, a stock exchange filing on Thursday showed.
However, the airline which marked its seventh consecutive quarterly loss, saw fair value gains on derivatives and said it had successfully negotiated for deferrals with lessors that resulted in 80% reduction in repayment of borrowings and lease liabilities.
Fixed costs also fell 54%, it said.