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AirAsia profits continue to rise in 4Q2010

25-Feb-2011 11:33 AM

AirAsia revenue up 32% - financial highlights for the three months ended 31-Dec-2010:

  • Revenue: USD603.9 million, +32.4% year-on-year;
    • Malaysia AirAsia: 387.0 million, +33%;
      • Ancillary: USD71.3 million, +121%;
    • Thai AirAsia: USD126.8 million, +30.9%;
      • Ancillary**: USD19.5 million, +137%;
    • Indonesia AirAsia: USD90.1 million, +38%;
      • Ancillary***: USD17.5 million, +122%;
  • Costs:
    • Malaysia AirAsia:
      • Fuel: USD95.4 million, -21%;
      • Labour: USD30.3 million, -22%;
  • EBITDAR: USD263.0 million, +135%;
    • Malaysia AirAsia: USD190.6 million, +51.0%;
    • Thai AirAsia: USD53.7 million, compared to a loss of USD9.4 million in p-c-p;
    • Indonesia AirAsia: USD18.7 million, compared to a loss of USD5.0 million in p-c-p;
  • EBITDA: USD222.2 million, +187.6%;
    • Malaysia AirAsia: USD186.5 million, +54.9%;
    • Thai AirAsia: USD33.2 million, compared to a loss of USD24.9 million in p-c-p;
    • Indonesia AirAsia: USD2.4 million, compared to a loss of USD18.3 million in p-c-p;
  • EBIT: USD170.7 million, +461.6%;
    • Malaysia AirAsia: USD138.2 million, +84.3%;
    • Thai AirAsia: USD32.5 million, compared to a loss of USD25.9 million in p-c-p;
    • Indonesia AirAsia: USD2.0 million, compared to a loss of USD18.7 million p-c-p;
  • Core operating profit (loss): USD169.9 million, +234.5%;
    • Malaysia AirAsia: USD108.6 million, +147.1%;
    • Thai AirAsia: USD60.2 million, +440.3%;
    • Indonesia AirAsia: USD1.2 million, compared to a loss of USD4.3 million in p-c-p;
  • Passenger traffic (RPKs):
    • Malaysia AirAsia: +21%;
    • Thai AirAsia: +10%;
    • Indonesia AirAsia: +17%;
  • Load factor:
    • Malaysia AirAsia: 82%, +3 ppts;
    • Thai AirAsia: 80%, -1 ppt;
    • Indonesia AirAsia: 78%, +4 ppts;
  • Revenue per ASK:
    • Malaysia AirAsia: USD 6.01 cents, +21%;
    • Thai AirAsia**: USD 5.84 cents, +18%;
    • Indonesia AirAsia***: USD 4.99 cent, +22%;
  • Cost per ASK:
    • Malaysia AirAsia: USD 3.86 cents, +7%;
    • Thai AirAsia**: USD 3.23 cents, -50%;
    • Indonesia AirAsia***: USD 4.91 cents, -5%;
  • Average fare:
    • Malaysia AirAsia: USD61.32, +7%;
    • Thai AirAsia: USD61.68, +6%;
    • Indonesia AirAsia: USD71.57, +16%;
  • Net current assets: USD337.3 million, +102%. [more]

*Based on the conversion rate at USD1 = MYR3.066
**Based on the conversion rate at USD1 = THB30.625
***Based on the conversion rate at USD1 = IDR8,870

AirAsia: “I am confident we can hold our own. With our plans to further expand our route network and key routes supported with the delivery of eight brand new Airbus A320 and the opening of three hubs in Kuching, Chiang Mai and Medan, we can position ourselves to emphasize on increasing load factor and yields. We’re well on track in both Bangkok and Jakarta towards the listing of our affiliates. It’s an exciting prospect, and the performance of the two affiliates in 2010 should whet the appetites of investors,” Tony Fernandes, CEO. Source: AirAsia, 25-Feb-2011.