AirAsia Group reports strong proforma operating profit growth in 2Q2017

AirAsia Group reported (29-Aug-2017) the following financial highlights for three months ended 30-Jun-2017^:

• Revenue: MYR2378 million (USD548.7 million), +19.2% year-on-year;
• Operating costs: MYR1988 million (USD458.6 million), +16.1%;
  • Fuel: MYR711.7 million (USD164.2 million), +30.6%;
  • Labour: MYR391.0 million (USD90.2 million), +21.6%;
• Operating profit: MYR516.5 million (USD119.2 million), +37.2%;
• Net profit: MYR139.9 million (USD32.3 million), -53.1%;
• Passengers: 9.6 million, +10%;
• Passenger load factor: 88%, +2ppts;
• Average fare: MYR177 (USD40.8), +10%;
• Revenue per ASK: MYR 15.35 sen (USD 3.5 cents), +11%;
• Cost per ASK: MYR 13.22 sen (USD 3.0 cents), +5%;
• Cost per ASK excl fuel: MYR 8.21 sen (USD 1.9 cents), -2%;
• Average stage length: 1266 km, -1%;
• Total assets: MYR20,249 million (USD4672 million);
• Deposits, bank and cash balances: MYR2067 million (USD476.8 million);
• Total liabilities: MYR14,523 million (USD3350 million). [more - original PR]

^Compared against proforma results in 2Q2016
*Based on the average conversion rate at MYR1 = USD0.230708 for 2Q2017
*Based on the average conversion rate at MYR1 = USD0.227757 for 1H2017