Malaysia Airlines vs AirAsia - two very different fourth quarters
Malaysia Airlines (MAS) and AirAsia released contrasting financial results for the fourth quarter and full year ended 31-Dec-08. The full service carrier shrunk its operation to record its tenth consecutive quarterly net profit, while the LCC continued its aggressive expansion, but notched up its second consecutive quarterly net loss. However, AirAsia's quarterly operating result was outstanding. Free of the hedging contracts that weighed down the second half of 2008, AirAsia appears set to soar.
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