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Shares of AirAsia X down 5 percent after fourth quarter loss

KUALA LUMPUR (Reuters) - Shares of AirAsia X Bhd <AIRX.KL>, the long-haul arm of Asia's largest budget carrier, fell 4.8 percent to their lowest since its IPO last June after registering a net loss of 131.3 million ringgit for its fourth quarter. AirAsia X cited high operating costs and foreign exchange losses for the decline in earnings. It recorded a net loss of 86.9 million ringgit for the full year ended December 31, 2013.

AirAsia boss lets rip at rival, Malaysian regulators

Flamboyant AirAsia boss Tony Fernandes savaged state-backed flag carrier Malaysian Airlines and the nation's aviation authorities on Wednesday, accusing them of mismanagement that was harming the travelling public. The budget airline mogul posted the comments on his Twitter feed a day after fierce rival Malaysia Airlines (MAS) announced it had lost a whopping 1.17 billion ringgit ($355 million) in 2013. "AirAsia Allstars, take a bow. Malaysia Airlines lost over a billion," Fernandes tweeted.

AirAsiaX places $6 bn order for 25 Airbus A330s

Low-cost Malaysian airline AirAsia X announced Wednesday an order of 25 long-range A330-300 aircraft with a catalogue price of nearly $6 billion (4.4 billion euros) as it looks to return to serving Europe. "This order stamps our firm intent to dominate the long-haul, low-cost carrier space and marks the next phase in our development to be the undisputed global market leader," AirAsia X's director Tony Fernandes was quoted as saying in a statement.

AirAsiaX says orders 25 Airbus 330-300s

PARIS (Reuters) - Malaysian long-haul budget carrier AirAsiaX <AIRX.KL> announced an order for 25 Airbus <EAD.PA> A330-300 aircraft on Wednesday in a deal valued at $6 billion at list prices. Chief Executive Azran Osman Rani said he expected strong Asian demand in the future given that low-cost airlines had not penetrated the market in that part of the world as much as in Europe or the United States. "I will bet my bottom dollar that this is not the last order we will place," he told Reuters.

AirAsia places $6 bn order for 25 Airbus A330s

Low-cost Malaysian airline AirAsia announced Wednesday that it was ordering 25 long-range A330-300 aircraft with a catalogue price of nearly $6 billion (4.4 billion euros). The planes will join the fleet of AirAsia's long-haul unit AirAsia X, Airbus said at a joint news conference in Paris. dt-mxp/rl/arp AIRASIA

AFP Asia News Agenda

Duty Editor: Jerome Taylor Tel: +852 2829 6211 ASIA NEWS HIGHLIGHTS ON WEDNESDAY + Early results expected from Nepal election + Thai ruling party faces dissolution court decision NEPAL -- Early results expected from Nepal's elections in which voters defied threats of violence to turn out in big numbers to cast ballots for a new constituent assembly seen as vital to the stability of the Himalayan nation (NEPAL-VOTE) THAILAND

AirAsia co-founders to take more control of budget carrier to cut costs

By Niluksi Koswanage KUALA LUMPUR (Reuters) - The co-founders of Malaysia's AirAsia Bhd <AIRA.KL> said on Wednesday they will take more control of running Asia's largest budget carrier by passenger volume and push on with cutting costs that have been a drag on profit. Tony Fernandes and Kamarudin Meranun, who started up AirAsia in 1993, had shifted their base to Indonesia and set up a regional office to focus on spearheading the company's expansion in Southeast Asia and further afield.

Westports shares rally in Malaysia market debut

Shares in leading Malaysian ports operator Westports Holdings surged eight percent on their debut Friday, after raising more than $700 million in the country's largest initial public offering (IPO) this year. Shares opened at 2.70 ringgit (0.86 US cents) on the Kuala Lumpur exchange, up from their 2.50 ringgit offer price. CEO Ruben Gnanalingam said the company had raised 2.24 billion ringgit ($710 million) in the IPO, calling it "another remarkable milestone" for a company that manages the shipping terminal at the country's main port of Klang.

Vietnam's VietJet agrees bumper $9 billion Airbus order

By Nguyen Phuong Linh PARIS/HANOI (Reuters) - Low-cost airline VietJet agreed a provisional order for up to 92 Airbus <EAD.PA> jets worth $9 billion at list prices on Wednesday, stepping up expansion to make its mark in a fast-growing regional market. Vietnam's first privately-owned airline said it would buy mostly A320 planes, financed by a planned stock market listing as well as loans from foreign banks backed by export credits.

AirAsia, Malaysia Airlines fined for flouting competition rules

KUALA LUMPUR (Reuters) - Malaysia's competition watchdog on Friday fined national carrier Malaysian Airline System Berhad <MASM.KL> and budget airline AirAsia Berhad <AIRA.Kl> 10 million ringgit ($3 million) each for breaking competition rules in a pact that later fell through. The Malaysia Competition Commission said in a statement that the carriers had entered an agreement in 2011 aiming to share markets in domestic routes in breach of competition regulations.
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