AirAsia 2Q2009 revenue up 8%

AirAsia 2Q2009 revenue up 8% - financial highlights:

• Three months ended 30-Jun-2009:
  • Revenue: USD186.1 million, +8% year-on-year;
    • Ancillary: USD26.9 million, +89%;
    • Thai AirAsia^: USD59.3 million, -2%;
    • Indonesia AirAsia#: USD45.5 million, +36%;
  • Operating costs: USD109.4 million, b/a;
  • Operating profit: USD36.4 million, +328%;
  • EBITDAR: USD76.9 million, +82%;
    • Thai AirAsia^: USD10.3 million, compared to a loss of USD3.7 million in the previous corresponding period;
    • Indonesia AirAsia#: USD6.0 million, compared to a loss of USD3.6 million in the previous corresponding period;
  • Profit after tax: USD39.4 million, +1,378%;
    • Thai AirAsia: USD2.3 million, compared to a loss of USD12.5 million in the previous corresponding period;
    • Indonesia AirAsia: USD6.2 million, compared to a loss of USD7.1 million in the previous corresponding period;
  • Passenger numbers: 3.5 million, +24%;
  • Load factor: 74.8%, -0.4 ppt;
  • Average fare: USD45.3, -19%;
  • Ancillary revenue per pax: USD7.6, +52%;
  • Unit revenue: USD52.9, -13%;
  • Revenue per ASK: USD 3.4 cents, -12%;
  • Cost per ASK: USD 2.3 cents, -31%;
  • Cost per ASK ex fuel: USD 1.2 cents, -2%;
• Six months ended 30-Jun-2009:
  • Revenue: USD388.6 million, +20%;
    • Ancillary: USD52.8 million, +104%;
    • AirAsia X: USD78.8 million, n/a;
  • Operating profit: USD81.6 million, +434%;
    • AirAsia X: USD1.3 million, n/a;
  • EBITDAR: USD166.1 million, +111%;
    • AirAsia X: USD19.2 million, n/a;
  • Profit after tax: USD97.0 million, +101%;
  • Passenger numbers: 6.7 million, +22%;
  • Load factor: 72.3%, -1.4 ppt;
  • Average fare: USD50.4, -8%;
  • Ancillary revenue per pax: USD7.9, +67%;
  • Unit revenue: USD58.3, -2%;
  • Revenue per ASK: USD 3.6 cents, -1%;
  • Cost per ASK: USD 2.4 cents, -25%;
  • Cost per ASK ex fuel: USD 1.3 cents, +14%.
• *Based on the conversion rate at USD1 = MYR3.53
• ^Based on the conversion rate at USD1 = THB34.13
• #Based on the conversion rate at USD1 = IDR9,950 [more - Perspective]

AirAsia: "Based on the forward booking trend, the underlying passenger demand in the third quarter remains positive. The passenger growth rate should be similar to the levels achieved in the first half of 2009. The current fuel price, although higher relative to the first half of 2008, is substantially lower than the USD162 per barrel we paid in the third quarter 2008. Other cost items are expected to remain low as we extract further efficiency gains and benefits of economies of scale," Tony Fernandes, CEO. Source: AirAsia, 12-Aug-2009.