KUALA LUMPUR (Reuters) - Malaysian long-haul budget airline AirAsia X (AIRX.KL) on Tuesday reported a four-fold rise in quarterly profit, on higher passenger volume and shrinking costs.
The airline ended the first quarter with a net profit of 41.5 million ringgit ($10.47 million), versus 10.3 million ringgit a year ago. Revenue rose 7.2 percent to 1.3 billion ringgit.
Some analysts had expected the company to report stronger year-on-year earnings for the three months to March despite higher fuel prices, helped by the realignment of its capacity from Australia to the North Asian markets.
Reporting by Liz Lee; Editing by Himani Sarkar