KUALA LUMPUR (Feb 28): AirAsia Group Bhd group chief executive officer (CEO) Tan Sri Tony Fernandes said the low cost carrier made all the right moves in 2018.

In a tweet from his handle @tonyfernandes, he said, “Made all the right moves in 2018 cutting cost adding capacity taking market share, and setting up new One airasia business like Red Logistics which is going to be huge."

AirAsia operates the group's logistics businesses via RedCargo Logistics Sdn Bhd.

“The stars Appear to be lining up. Asean airlines will all make money this year. India and japan reduce losses. Cash strong . Oil is 54% hedged and stable. Currencies stronger,” read the tweet.

However, Fernandes said AirAsia was really hurt by closure of Boracay in the Phillipines and numerous national disasters in Indonesia which led to huge losses.

Yesterday, AirAsia reported a net loss of RM394.97 million in the fourth quarter ended Dec 31, 2018 (4QFY18), on higher fuel prices and operating lease expenses, versus a net profit of RM372.65 million a year earlier.

Quarterly revenue grew 6.2% to RM2.82 billion from RM2.66 billion in 4QFY17, after total passengers carried increased 16%.

Full-year net profit rose 21.5% to RM1.98 billion from RM1.63 billion in FY17. Revenue rose 9.2% to RM10.6 billion from RM9.71 billion.

AirAsia shares yesterday fell 1.94% or 6 sen to RM3.04 with 11.27 million shares traded.