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Malaysia's AirAsia Q2 net profit up 193 pct on higher load factor

1-Mar-2007

Kuala Lumpur (XFN-ASIA) - AirAsia Bhd said its second quarter

to December net profit jumped nearly 193 pct year-on-year to 150.1 mln rgt on

the back of a higher load factor of 82 pct, up 6 basis points from a year earlier.

Second quarter revenue rose 61 pct year-on-year to 401 mln rgt, with six months revenue amounting to 693.785 mln.

"The combination of higher yields and lower cost enabled us to deliverer a pretax income of 93 mln rgt, an 80 pct growth as compared to the same period last year," said chief executive officer Tony Fernandes in a statement.

"The outlook for the third quarter is looking better relative to the same period last year -- forward bookings suggest that yields will be higher and load factor will be slightly lower," he added.

Third quarter earnings will get a boost from lower fuel prices, a stronger ringgit and the delivery of three Airbus A320 aircraft, he said.

Meanwhile, Fernandes said the issue relating to the treatment of differed taxation has "come to a positive end," as the government has approved the airline's treatment of investment allowance.


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