Malaysia's AirAsia swings to third-quarter net loss [Reuters]
Expedia Group, Inc. (EXPE)
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Source: Reuters
Malaysia's AirAsia swings to third-quarter net loss KUALA LUMPUR (Reuters) - Malaysia’s flagship budget airline flipped to a loss in its third-quarter, dragged down by a writedown in the fair value of some derivatives and foreign exchange fluctuations. It posted a net loss of 51.4 million ringgit ($12.3 million) for the three-month period ended September, from 915.9 million ringgit net profit in the year ago period. Revenue was 17.5% higher at 3.1 billion ringgit, however. In a filing to the bourse, it also recorded a depreciation of right of use of asset, and finance costs for lease liabilities during the quarter. Among its non-airline businesses, travel and lifestyle arm AirAsia.com and financial services unit BigPay also recorded wider losses. Cost per unit during the period rose 11% mainly due to increases in maintenance and overhaul, user charges and other operating expenses. AirAsia recorded one-off gains in the corresponding period last year from the disposal of its remaining s
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