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AirAsia: Ancillaries and brutal cost control deliver 17.6% after tax margin for Malaysian operations

Analysis

AirAsia reported another successful third quarter to 30-Sep-2009, with each of its short haul airlines reporting profits, on the back of strong passenger number and revenue growth. The Thai JV airline's performance did not match the highly positive results elsewhere, particularly those of the main Malaysian operation, which delivered an EBITDAR margin of 31.7% and an after tax profit margin of 17.6%.

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