AirAsia reported a 2008 net loss of MYR471.7 million ($128.3 million), reversed from a MYR697.6 million profit in 2007, but insisted its 2009 outlook is strong because its low-fare model is attracting new traffic and it has "unwound" fuel hedges that weighed down second-half earnings. The third and fourth quarters of 2008 marked the LCC's first unprofitable reporting periods since it went public in 2004, but it blamed the losses on "exceptional charges" related to fuel hedging and aircraft ...

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