(MENAFN) AirAsia, southeast Asia's top budget carrier, logged a net loss of USD120 million in the fourth quarter of 2014, Gulf Daily News reported.
The low cost carrier logged USD46.99 million net profit in the same period a year earlier. The loss is its first quarterly net loss in two years.
According to the Airline, revenue rose 16 percent, hitting USD411.51 million for the quarter but operating costs including wages, aircraft maintenance and airport landing charges were higher.
"We have seen the competition becoming more rational in the second half of 2014," AirAsia chief executive said.
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