Malaysia's AirAsia Q3 net profit rises 3.62%

KUALA LUMPUR (REUTERS) - Asia's largest budget carrier, AirAsia, posted a 3.62 per cent increase in third-quarter net profit on Wednesday and said it would continue to launch more routes in the region.

The Malaysian-listed airline said net profit for the quarter ended Sept 30 was RM157.81 million (S$63,04 million) and said revenue climbed to RM1.24 billion, 14.4 per cent higher than a year earlier.

The company has been expanding in South-east Asia and is planning to buy up to 100 Airbus jets, potentially worth around US$9 billion. It recently scrapped an US$80 million deal to buy Indonesia's Batavia Air, calling the purchase too risky.

"The fourth quarter is predominantly our strongest quarter,"AirAsia's chief executive officer Aireen Omar said in a statement. "We will continue to launch more routes and add more frequencies to cater to the high demand. This year, we have a total of 21 brand new Airbus A320s coming in which is being distributed among the five entities to support their growth."