AirAsia revenue up 26%, reports record second quarter profits in 2Q2010

AirAsia revenue up 26% - financial highlights for the three months ended 30-Jun-2010:

• Revenue*: USD298.8 million, +26% year-on-year;
  • • AirAsia Thailand**: USD84.2 million, +30%;
    • AirAsia Indonesia***: USD73.1 million, +44%;
  • Ancillary: USD53.1 million, +76%;
    • AirAsia Thailand: USD12.4 million, +74%;
    • AirAsia Indonesia: USD13.4 million, +106%;
• Cost of sales: USD167.2 million, +33.6%;
  • Fuel: USD102.4 million, +59%;
  • Labour: USD25.1 million, +33%;
• Operating profit: USD115.6 million, +12.7%;
• Profit before tax: USD45.6 million, +4%;
  • AirAsia Thailand: USD1.5 million, compared with a loss of USD2.5 million in p-c-p;
  • AirAsia Indonesia: USD12.4 million, compared with a loss of USD7.2 million in p-c-p;
• Net profit: USD63.2 million, +43%;
• Total debt: USD2,410 million, +6% when compared with period ended 31-Mar-2010;
• Cash: USD272.6 million, +9% when compared with period ended 31-Mar-2010;
• Passenger numbers:
  • Malaysia: 3.9 million, +11%;
  • AirAsia Thailand: 1.2 million, +11%;
  • AirAsia Indonesia: 947,786, +10%;
• Load factor:
  • Malaysia: 77%, +2 ppts;
  • AirAsia Thailand: 75%, +5 ppts;
  • AirAsia Indonesia: 75%, +1 ppt;
• Average fares:
  • Malaysia: USD54.96, +8%;
  • AirAsia Thailand: USD57.01, +12%;
  • AirAsia Indonesia: USD62.79, +23%;
• Revenue per ASK:
  • Malaysia: USD 5.03 cents, +15%;
  • AirAsia Thailand: USD 4.74 cents, +8%;
  • AirAsia Indonesia: USD 4.50 cents, +19%;
• Cost per ASK:
  • Malaysia: USD 3.73 cents, +21%;
  • AirAsia Thailand: USD 4.49 cents, +2%;
  • AirAsia Indonesia: USD 3.61 cents, +16%;
• Cost per ASK excl fuel:
  • Malaysia: USD 2.01 cents, +5%;
  • AirAsia Thailand: USD 2.78 cents, +8%;
  • AirAsia Indonesia: USD 2.12 cents, +14%. [more]

*Based on the conversion rate at USD1 = MYR3.148
**Based on the conversion rate at USD1 = THB31.645
***Based on the conversion rate at USD1 = IDR8,970

AirAsia: "Forward bookings are looking very good. The fourth quarter, of course, is traditionally our strongest quarter. To head into our strongest season on the back of a soaring first quarter and a record-breaking second quarter puts us in a fantastic position. We are continuing to grow our market in India especially from our other hubs in Thailand, making the subcontinent a key player in our growth strategy. We are also completing our final chapter on connecting all the ASEAN capitals from our Kuala Lumpur hub by introducing Yangon destination, making us a Truly ASEAN carrier," Tony Fernandes, CEO. Source: AirAsia, 18-Aug-2010.