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Malaysia's AirAsia posts 16% drop in fourth-quarter profit

Thursday, February 23, 2017 - 21:30

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AirAsia Bhd posted a 16 per cent drop in fourth-quarter profit on Thursday, dragged down by a lower aircraft operating lease income.

[KUALA LUMPUR] AirAsia Bhd posted a 16 per cent drop in fourth-quarter profit on Thursday, dragged down by a lower aircraft operating lease income.

The budget carrier's 48 per cent drop in operating lease income pulled net profit down to 465.3 million ringgit (S$148.385 million) from 554.1 million ringgit in the same period a year earlier on revenue that slid by 10.6 percent to 1.94 billion ringgit.

The average forecast from two analysts was for profit of 200.7 million ringgit, Thomson Reuters data shows.

The airline said it remains positive on prospects for the group this year.

REUTERS

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