AirAsia’s first-quarter operating profit drops 68%

AirAsia has reported a 68% drop in its first-quarter operating profit coming in at MYR236 million ($56.3 million). During the first three months of 2019, the airline’s net profit was down 91% to RM101.6 million, from RM1.1 billion year-over-year. The airline revealed that expenses, with depreciation, maintenance and fuel costs attributing to this, jumped 21% to MYR2.78 billion. Unit costs rose 9% and unit costs excluding fuel increased 11%. Revenue for the quarter rose 9% compared to the same period last year to RM2.8 billion.