AirAsia shares falls as much as seven percent after reporting third losses

KUALA LUMPUR (Reuters) - Shares of AirAsia Bhd fell as much as 7 percent in early trade on Friday, its biggest drop in nearly six weeks, after it reported a third-quarter net loss due to foreign exchange fluctuations and writedown on its Indonesia affiliate.

The stock recovered slightly by 0120 GMT to trade down 5.7 percent at 1.33 ringgit. The benchmark index was down 0.2 percent.

(Reporting by Praveen Menon; Editing by Miral Fahmy)