AirAsia swings to Q3 loss

Malaysia-based AirAsia, the region's biggest budget carrier by fleet size, said Thursday it suffered a loss in the third quarter, bogged down by foreign exchange losses and its Indonesian operations.

AirAsia registered a net loss of 405.72 million ringgit ($95.9 million) in the quarter ending September 30.

The company had registered a profit of 5.4 million ringgit in the corresponding period of 2014.

Revenue increased by 15 percent to 1.52 billion ringgit due to an increase in passenger numbers, fuelled in particular by increased demand from Chinese travellers, AirAsia said.

The discount carrier, in a statement, added that foreign exchange losses were 435.98 million ringgit, up from 152.66 million ringgit a year ago.