May 22, 2018 / 10:37 AM / a month ago

Malaysia's AirAsia X first quarter profit jumps four-fold

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.

FILE PHOTO: An AirAsia X Airbus A340 passenger jet arrives on its inaugural flight from Kuala Lumpur to Paris Orly Airport February 14, 2011. REUTERS/Charles Platiau/File Photo

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

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