AirAsia slips 6.7% in early trade on lower Q4 net earnings

PETALING JAYA: Shares of AirAsia Bhd fell as much as 6.7% this morning after its fourth-quarter net earnings dropped 19.9%.
At 10.50am, its stock was down by 24 sen or 5.4% to RM4.22 on some 15.63 million shares done.
Yesterday the low-cost carrier announced that a net profit of RMRM372.65 million for the fourth quarter ended Dec 31, 2017, lower than the RM465.32 million recorded in the previous corresponding period, mainly due to the absence of tax credit.
However, its quarterly net operating profit was 13.6% higher at RM549.8 million, compared with RM484.0 million for the corresponding quarter in 2016, buoyed by a 200% jump in other income which came from gain sale of interest in joint venture and sale and leaseback of aircraft.