AirAsia profits increase in 2016, 2017 outlook 'confident'

AirAsia revenue down 11% - financial highlights:

• Three months ended 31-Dec-2016:
• • Revenue: MYR1937 million (USD447.8 million), -10.7% year-on-year;
  • • Baggage fees: MYR144.2 million (USD33.3 million), +6.5%;
  • Costs: MYR1490 million (USD344.4 million), +6.1%;
  • • Fuel: MYR420.5 million (USD97.2 million), -20.2%;
    • Labour: MYR314.0 million (USD72.6 million), +45.6%;
  • Operating profit: MYR590.4 million (USD136.5 million), -28.8%;
  • Net profit: MYR464.7 million (USD107.4 million), -16.1%;
  • Passengers: 6.8 million, +5%;
  • Passenger load factor: 87%, +2 ppts;
  • Revenue per ASK: MYR 15.71 sen (USD 3.6 cents), +6%;
  • Cost per ASK: MYR 11.70 sen (USD 2.7 cents), -8%;
  • Cost per ASK excl fuel: MYR 7.60 sen (USD 1.8 cents), +7%;
  • Average stage length: 1310 km, +3%;
• 12 months ended 31-Dec-2016:
• • Revenue: MYR6924 million (USD1671 million), +9.9%;
  • Costs: MYR5224 million (USD1261 million), +5.3%;
  • • Fuel: MYR1578 million (USD381.0 million), -21.1%;
    • Labour: MYR988.9 million (USD238.7 million), +30.2%;
  • Operating profit: MYR2052 million (USD495.3 million), +28.6%;
  • Net profit: MYR2033 million (USD490.7 million), +276%;
  • Passengers: 26.4 million, +9%;
  • Passenger load factor: 87%, +6 ppts;
  • Revenue per ASK: MYR 14.39 sen (USD 3.5 cents), +1%;
  • Cost per ASK: MYR 11.08 sen (USD 2.7 cents), -9%;
  • Cost per ASK excl fuel: MYR 7.15 sen (USD 1.7 cents), +4%;
  • Average stage length: 1316 km, +6%;
  • Total assets: MYR21,902 million (USD5286 million);
  • Deposits, bank and cash balances: MYR1742 million (USD420.4 million);
  • Total liabilities: MYR152,288 million (USD3690 million). [more - original PR]

*Based on the average conversion rate at MYR1 = USD0.231184 for 4Q2016
*Based on the average conversion rate at MYR1 = USD0.241365 for 2016

AirAsia: "In Malaysia, the first quarter of 2017 is projected to achieve an average forecast load factor of 89% as we continue to see strong demands and a better fare environment. For the remaining quarters of 2017, with continuous fare competition in the market, we remain confident as we are continuing to observe strong demand across most sectors coupled with a favorable fuel price environment." Source: Company statement, 23-Feb-2017.