KUALA LUMPUR Feb 22 Malaysian long-haul budget
airline AirAsia X Bhd on Wednesday said its
fourth-quarter profit plunged 80 percent from a year ago, hit by
foreign exchange volatility over the period.
AirAsia X posted a net profit of 39 million ringgit ($8.76
million), lower than 197.4 million ringgit a year ago. This was,
however, a fifth straight quarter of profits for the airline.
Revenue rose 39 percent to 1.17 billion ringgit ($262.86
million) versus 841.1 million ringgit a year ago.
The airline said profits fell "mainly due to the
unfavourable foreign currency movement in the fourth quarter of
2016, whereas in contrast, there was a favourable foreign
currency movement in the fourth quarter of 2015".
It added that based on the current forward booking trend,
forward loads and average fares are trending better than the
($1 = 4.4510 ringgit)
(Reporting by Liz Lee; Editing by Himani Sarkar)