The AirAsia X (AAX) Group reported a significant decline in fourth-quarter profits, although this was not enough to prevent an impressive turnaround in its full-year 2016 results. The Malaysia-based long-haul low-cost carrier (LCC) achieved a net profit of MYR39 million ($8.8 million) in the fourth quarter, down from MYR197.4 million in the same period in 2015. The carrier said the drop was mainly because of unfavorable movement in foreign exchange rates, in contrast to a favorable shift ...

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