Earnings of Asia Aviation Plc (AAV), the major shareholder of discount airline Thai AirAsia (TAA), slumped 66% in the first quarter this year mainly on inflated jet financing costs.
AAV's net profit in the first quarter fell to 247 million baht from 726 million year-on-year.
TAA's net profit in the quarter plunged at almost the same rate: 67% to 244.7 million.
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