Air Asia X books net loss for Q1

AirAsia X has posted a net loss of MYR11.3 million ($3.5 million) during the first quarter, which is a strong decline from a net profit of MYR50.2 million for the year-ago period. Revenue rose by 40% to a record MYR750 million for the quarter, although this was on the back of a 60.1% increase in capacity to 6.2 billion ASKs. Operating expenses during the reporting period rose by 64.1% to MYR786 million, with fuel, aircraft and engineering costs all adversely affected by the decline in value of the Malaysian ringgit against the US dollar. First-quarter RPKs were up 63.3% to