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AirAsia Group's quarterly operating profit halves as fuel costs hurt

AirAsia Group posted an operating profit of 253 million ringgit ($60.50 million), compared with 494 million ringgit a year earlier

Reuters  |  Kuala Lumpur 

AirAsia Group Bhd's operating profit halved in the third quarter as higher fuel costs hurt the Malaysian flagship budget carrier, but it said conditions in the fourth quarter should improve and the holiday season would also help. Airlines in the region, including Singapore Airlines and India's Jet Airways and IndiGo, have been hit by a recent surge in fuel prices, with price volatility forecast to persist. AirAsia's average fuel price rose 50.1 percent over the quarter to $95 per barrel, it said in a stock exchange statement on Thursday. "All airline ...

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First Published: Thu, November 29 2018. 19:33 IST