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AirAsia X shares up 11% despite RM11.3m Q1 loss

The budget carrier's results should look better in H2: CIMB

SHARES in AirAsia X (AAX) inexplicably rose 11 per cent to RM0.84 apiece yesterday despite the medium-haul budget carrier posting a net loss of RM11.3 million (S$4.4 million) for its fiscal first quarter. AAX said yesterday that it recorded a 40 per cent increase in revenue to RM749.5 million,