AirAsia X slips 3% after posting wider-than-expected losses
Airline reports full-year net loss of RM520m; analysts expect continued losses for another year or two
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Kuala Lumpur
SHARES of AirAsia X slipped 3.2 per cent to 60 sen on Wednesday after the budget long-haul carrier posted wider-than-expected losses for the fiscal year to end December, with analysts projecting continued losses for another year or two.
The airline's full-year net loss of RM520 million (S$195.4 million) - including RM168 million in the fourth quarter - prompted a chorus of sell calls with most analysts projecting tough times ahead notwithstanding lower fuel costs.
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