KUALA LUMPUR: CIMB Equities Research said AirAsia X (AAX) reported core net profit of RM7mil in the third quarter ended Sept 30, 2013 (Q3, 2013), which was below expectations.
It said on Wednesday the reason was AAX failed to recoup the RM26mil loss of the immediately preceding Q2, 2013 due to lower-than-expected yields. The nine-month core earnings of RM22.8mil were only 24% of its full-year estimate.
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