November 23, 2017 / 10:30 AM / 25 days ago

Malaysia's AirAsia X posts Q3 loss on rising costs

KUALA LUMPUR, Nov 23 (Reuters) - AirAsia X Bhd posted on Thursday a net loss for the third quarter versus a year-ago profit, as the long-haul low-cost carrier bore higher costs and lower unit revenue leading to operating losses in its biggest markets - Malaysia and Thailand.

For the July-September period, the airline reported a net loss of 43.3 million ringgit ($10.55 million), compared with 11 million ringgit profit a year earlier.

Revenue climbed to 1.12 billion ringgit, supported by a 23 percent growth in passenger volume and 4 percent increase in ancillary revenue per passenger.

The third quarter is traditionally one of AirAsia X’s leanest periods. Higher fuel prices during the period compared to a year ago added to the airline’s costs. ($1 = 4.1050 ringgit) (Reporting by Liz Lee; Editing by Muralikumar Anantharaman)

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