Malaysia's AirAsia reports drop in profit

February 26, 2014 23:43

AirAsia today reported a sharp fall in fourth quarter net profit, as the flamboyant boss of Asia's largest budget carrier by capacity called for "creative" ways to slash costs amid stiff competition.

Net profit for the three months ended December fell 19 percent from a year earlier to 245 million ringgit (USD 74.6 million), in large part due to Malaysian currency fluctuations, while revenue remained flat at 1.35 billion ringgit.

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