AirAsia results strong for 1Q08: looking good as the slowdown approaches

Premium Analysis

Through a difficult period, AirAsia appears to have turned in an extremely solid performance, combining expansion effectively with profitability. On traffic growth of 20.9% (to 2.6 million pax for the quarter), the carrier achieved a net margin of 30.1% (21.4% last year - although the recent quarter benefited from a partial tax deferral, as well as some currency exchange gains), at USD49.6 million, and EBITDAR of 24.4% (30.1% last year).

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