Malaysia's flagship budget carrier AirAsia Group Bhd on Thursday posted a 49 per cent drop in its operating profit for the third quarter, hurt by higher fuel costs. Its operating profit was 253 million ringgit ($60.50 million), compared with 494 million ringgit a year earlier.
Its net profit for the quarter, however, soared about 81 per cent, largely on a one-off gain from the sale of a business and reversal of deferred tax liabilities.
AirAsia's net profit for the July-September period rose to 915.9 million ringgit, from 505.3 million ringgit a year ago. Revenue climbed 6.6 per cent to 2.61 billion ringgit. ($1 = 4.1820 ringgit)