AirAsia shares slide on poor earnings results
November 27, 2015, 12:50 pm

Shares in Asia`s biggest budget airline, AirAsia, fell as much as 7% on Friday after the firm posted a loss for the three months to September.

The Malaysian-based airline, which has operations in Indonesia and the Philippines, among others, posted a net loss on Thursday of 405.73 Malaysian ringgit ($95.8m; £63.4m).

The firm`s earnings were hurt by foreign exchange, it said.

Its Indonesian operations also dragged on the firm`s bottom line.

AirAsia`s share of Indonesia AirAsia`s net loss in the period came to 155.7m Malaysian ringgit.

However, the firm said it was working towards a better fourth quarter.

"We are working on increasing capacity in the fourth quarter to meet the strong demand due to the year end holidays and festivities," it said.

Thursday`s results come one day after the airline group posted the eighth straight quarter of losses at its long haul service, Air Asia X.

Next week, Indonesia`s national transport safety board is expected to announce the findings of AirAsia`s deadly crash that occurred in December 2014 when one of its carriers crashed into the Java Sea off of Indonesia, killing all 162 people on board.

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