Malaysia's AirAsia posts 16% drop in Q4 profit

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 ($104.63 million) from 554.1 million ringgit in the same period a year earlier on revenue that slid by 10.6 per cent to 1.94 billion ringgit ($436.25 million).

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.