AirAsia Berhad Q2 profits fall

AirAsia Berhad has posted a 43.7% fall in second-quarter net profit to MYR243 million ($64.3 million) compared to the same period last year. The airline has blamed the steep fall on unrealized foreign-exchange losses on borrowings and one-off costs related to the sale and leaseback of aircraft during the reporting period. Revenue rose slightly by 1.1% to MYR1.32 billion. Operating expenses were up by the same amount to MYR1.08 billion, resulting in an operating profit of MYR243.5 million – an increase of 39.8%. AirAsia has benefited from the fall in the fuel price and group CEO Tony Fernandes said that