Report from somewhere :
Kuala Lumpur, MALAYSIA - Air Asia has seen a 645 million ringgit (US$177.5 mil) reversal in its revenue for the July to September quarter, compared with the same period 12 months ago.
Last Friday, Air Asia announced a loss of 465.5 million ringgit (US$128 mil) which the airline spokesman said was due to 'unwinding of fuel hedging contracts' and foreign currency exchange losses.
Malaysian Islamic Capital Markets advisor, ASEAMBANKERS, stated, "Operationally, the outlook is grim for AirAsia. It is facing intensifying competition from Malaysia Airlines and both are competing for a shrinking market as demand slows."