AirAsia shares slide on poor earnings results

Shares in Asia’s biggest budget airline, AirAsia, fell as much as 7 per cent on Friday after the firm posted a loss for the three months to September, reports BBC. The Malaysian-based airline, which has operations in Indonesia and the Philippines, among others, posted a net loss on Thursday of 405.73 Malaysian ringgit ($95.8 million; £63.4million). The firm’s earnings were hurt by foreign exchange, it said. Its Indonesian operations also dragged on the firm’s bottom line. AirAsia’s share of Indonesia AirAsia’s net loss in the period came to 155.7m Malaysian ringgit. However, the firm said it was working towards a better fourth quarter.

AirAsia shares slide on poor earnings results

Shares in Asias biggest budget airline, AirAsia, fell as much as 7 per cent on Friday after the firm posted a loss for the three months to September, reports BBC. The Malaysian-based airline, which has operations in Indonesia and the Philippines, among others, posted a net loss on Thursday of 405.73 Malaysian ringgit ($95.8 million; 63.4million). The firms earnings were hurt by foreign exchange, it said. Its Indonesian operations also dragged on the firms bottom line. AirAsias share of Indonesia AirAsias net loss in the period came to 155.7m Malaysian ringgit. However, the firm said it was working towards a better fourth quarter.