Malaysia's AirAsia Q1 net profit up 7% on lower fuel, operating costs

[KUALA LUMPUR] Malaysian budget carrier AirAsia said its first-quarter net profit rose 7 per cent from the same year-ago period due to lower fuel and operating costs.

AirAsia posted a net profit of 149.3 million ringgit (S$55.4 million) against 139.7 million ringgit in the same period a year ago.

In the fourth quarter, the airline made a loss of 429.4 million ringgit, which was its first net loss since 2008.

REUTERS