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AirAsia Group reports mixed profit results in 1Q2011

25-May-2011 11:45 AM

AirAsia Group revenue up 24% – financial highlights for the three months ended 31-Mar-2011:

  • Revenue: USD563.1 million, +24% year-on-year;
  • Operating costs:
    • AirAsia: USD263.8 million, +14%;
    • Thai AirAsia: USD106.4 million, +24%;
    • Indonesia AirAsia: USD89.4 million, +40%;
  • Operating profit: USD107.8 million, +52%;
    • AirAsia: USD79.1 million, +46%;
    • Thai AirAsia: USD27.9 million, +88%;
    • Indonesia AirAsia: USD1.0 million, -40%;
  • Profit before tax: USD96.5 million, -9%;
    • AirAsia: USD66.4 million, -21%;
    • Thai AirAsia: USD26.7 million, +30%;
    • Indonesia AirAsia: USD3.7 million, +588%;
  • Profit after tax: USD86.3 million, -9%;
    • AirAsia: USD56.3 million, -23%;
    • Thai AirAsia: USD26.7 million, +30%;
    • Indonesia AirAsia: USD3.7 million, +588%;
  • Passenger numbers: 7.2 million, +19%;
    • AirAsia: 4.3 million, +17%;
    • Thai AirAsia: 1.8 million, +23%;
    • Indonesia AirAsia: 1.1 million, +22%;
  • Load factor: 81%, +6 ppts;
    • AirAsia: 80%, +6 ppts;
    • Thai AirAsia: 84%, +3 ppts;
    • Indonesia AirAsia: 79%, +7 ppts;
  • Average fares:
    • AirAsia: USD53.66, -5%;
    • Thai AirAsia: USD61.99, +5%;
    • Indonesia AirAsia: USD64.97, +12%;
  • Revenue per ASK:
    • AirAsia: USD 5.38 cents, +12%;
    • Thai AirAsia: USD 5.95 cents, +13%;
    • Indonesia AirAsia: USD 4.63 cents, +10%;
  • Cost per ASK:
    • AirAsia: USD 4.14 cents, +6%;
    • Thai AirAsia: USD 4.70 cents, +5%;
    • Indonesia AirAsia: USD 4.58 cents, +12%;
  • Cost per ASK excl fuel:
    • AirAsia: USD2.21 cents, -1%;
    • Thai AirAsia: USD 2.76 cents, -2%;
    • Indonesia AirAsia: USD 2.61 cents, +15%. [more]

*Based on the conversion rate USD1 = MYR3.0561
**Based on the conversion rate USD1 = THB30.41
***Based on the conversion rate USD1 = IDR8,565

AirAsia Group: “Forward bookings in 2Q2011 higher compared to 2Q10 despite fuel surcharge being Imposed,” Company statement. Source: AirAsia Group, 24-May-2011.

AirAsia Group: “We are still anticipating the launch of our AirAsia Philippines in the second half and I am just excited on the progress to get this venture started. We are also re-looking into Vietnam and hopefully an exciting announcement will follow suit soon. These moves will further strengthen our presence in the ASEAN skies,” Tony Fernandes, CEO. Source: AirAsia Group, 24-May-2011.