AirAsia Q4 profit fell on higher expenses, tax

Reuters

Malaysian budget airline AirAsia Bhd posted a 20 per cent fall in quarterly net profit on Tuesday hurt by higher operating expenses and tax charges.

Net profit for the three months to December 31 fell to 372.6 million ringgit ($95.39 million) from 465.3 million a year earlier.

Revenue rose 37 per cent to 2.66 billion ringgit from 1.94 billion.

Passenger numbers rose 17 per cent and the airline’s load factor rose 1 per cent to 88 per cent.