AirAsia active, down 2.29% after slipping into the red in 3Q

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KUALA LUMPUR (Nov 28): Shares in AirAsia Group Bhd fell 2.29% in active trade this morning after the low cost carrier slipped into the red in the third quarter ended Sept 30, 2019 (3QFY19) with a net loss of RM67.46 million versus a hefty net profit of RM804.03 million a year ago due mainly to the fair value loss on derivatives amounting to RM237.7 million plus RM206.3 million of unrealized losses on foreign exchange, net off against gain on disposal of property, plant and equipment of RM92.1 million.

At 9.05am, AirAsia fell 4 sen to RM1.71, valuing it at RM5.72 billion.

For the nine-month period, the carrier’s net profit was down sharply to RM99.46 million from RM2.21 billion a year ago, while revenue was higher at RM8.75 billion from RM7.67 billion.