27-May-2016 10:35 AM
AirAsia operating profit more than doubles on strong demand, particularly from China
AirAsia revenue up 31% - financial highlights for three months ended 31-Mar-2016:
- Revenue: MYR1699 million (USD405.7 million), +31.0% year-on-year;
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- Baggage fees: MYR143.6 million (USD34.3 million), +26.4%;
- Costs:
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- Fuel: MYR372.4 million (USD88.9 million), -22.7%;
- Labour: MYR210.2 million (USD50.2 million), +22.2%;
- Operating profit: MYR521.1 million (USD124.4 million), +121%;
- Net profit: MYR876.9 million (USD209.3 million), +487%;
- Passenger numbers: 6.5 million, +16.9%;
- Passenger load factor: 85%, +10 ppts;
- Average fare: MYR166 (USD39.6), +10.7%;
- Revenue per ASK: MYR 16.88 sen (USD 4.0 cents), +17.4%;
- Cost per ASK: MYR 11.70 sen (USD 2.8 cents), -0.5%;
- Cost per ASK excl fuel: MYR8.00 sen (USD 1.9 cents), +24.6%;
- Average stage length: 1321 km, +7%;
- Total assets: MYR19,987 million (USD4771 million);
- Deposits, bank and cash balances: MYR1728 million (USD412.5 million);
- Total liabilities: MYR14,987 million (USD3578 million). [more - original PR]
*Based on the average conversion rate at MYR1 = USD0.238724
AirAsia Group: "In Malaysia, we are seeing robust demand despite the weaker consumer sentiment and domestic economy. In addition, the trend of local consumers trading down when going on their travel still persists while foreign nationals are still eyeing Malaysia as a value for money holiday destination due to our weaker currency. Adding on, demand from Chinese travellers has recovered as we note a 37% jump in the number of Chinese guests flying into various points in Malaysia for the first quarter of the year," Tony Fernandes, CEO. Source: Company statement, 26-May-2016.