AirAsia posts loss in third quarter

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Budget airline AirAsia posted a loss after tax of 405.7 million ringgit (96.13 million dollars) in the third quarter of 2015, the company said in its report to Bursa Malaysia, Malaysia’s stock exchange.

The Kuala Lumpur-based airline traced its third-quarter woes to foreign exchange losses as well as poor performance of some of its subsidiaries, such as its Indonesian one.

“The loss before tax for the period was 461.7 million ringgit compared to profit before tax of 26.5 million ringgit in the same quarter of 2014,” the company said in its submission to Bursa Malaysia late Thursday.

“The loss after tax for the period was 405.7 million ringgit compared to a profit after tax of 5.4 million ringgit in the same quarter of 2014,” it added.

In the second quarter of 2015, AirAsia posted a profit of 243 million ringgit after tax.

AirAsia said it remained optimistic about its prospects in the fourth quarter despite the poor performance in the July to September period.

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