AirAsia posts strong results; bullish entering 4Q

AirAsia, Southeast Asia’s largest LCC, gained 4.1% yesterday as the company announced it more than doubled its 3Q net income to MYR327.3 million (USD105 million) on the back of higher operating revenue, traffic volumes and improved yields. AirAsia closed at MYR2.61, its highest level since 22-Oct-2010. Rival Malaysia Airlines also posted strong results yesterday.

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