February 26, 2014 / 1:21 AM / 3 years ago

Shares of AirAsia X down 5 percent after fourth quarter loss

1 Min Read

An Airbus A340 AirAsia X passenger jet arrives on its inaugural flight from Kuala Lumpur to Paris Orly Airport February 14, 2011.Charles Platiau

KUALA LUMPUR (Reuters) - Shares of AirAsia X Bhd (AIRX.KL), the long-haul arm of Asia's largest budget carrier, fell 4.8 percent to their lowest since its IPO last June after registering a net loss of 131.3 million ringgit for its fourth quarter.

AirAsia X cited high operating costs and foreign exchange losses for the decline in earnings. It recorded a net loss of 86.9 million ringgit for the full year ended December 31, 2013.

The stock was down 5.3 percent to 89 sen at 0108 GMT, while the broader index .KLSE shed 0.2 percent. AirAsia Bhd (AIRA.KL) fell 0.43 percent to 2.34 ringgit.

Reporting By Al-Zaquan Amer Hamzah; Editing by Paul Tait

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