AirAsia reports 'strong' quarter in 2Q2016, remains confident for remainder of 2016

AirAsia revenue up 23% - financial highlights for three months ended 30-Jun-2016:

• Revenue: MYR1624 million (USD405.3 million), +22.5% year-on-year;
• • Passenger seat sales: MYR991.4 million (USD247.5 million), +22.9%;
  • Baggage fees: MYR139.1 million (USD34.7 million), +20.0%;
• Operating costs: MYR1209 million (USD301.8 million), +10.5%;
• • Fuel: MYR376.2 million (USD93.9 million), -21.1%;
  • Labour: MYR243.9 million (USD60.9 million), +26.6%;
• Operating profit: MYR414.6 million (USD103.5 million), +79.9%;
• Net profit: MYR341.9 million (USD85.3 million), +40.7%;
• Passenger numbers: 6.5 million, +10%;
• Load factor: 87%, +7 ppts;
• Average fare: MYR153 (USD38.2), +8.5%;
• Revenue per ASK: MYR 13.35 sen (USD 3.33 cents), +11.4%;
• Cost per ASK: MYR 11.48 sen (USD 2.87 cents), -2.1%;
• Cost per ASK excl fuel: MYR 7.72 sen (USD 1.93 cents), +18.8%;
• Average stage length: 1319 km, +7%. [more - original PR]

*Based on the average conversion rate at MYR1 = USD0.249637

AirAsia Group: "In Malaysia, we continue to see strong demands in the third quarter of 2016 with average load factor forecast at 90%. For the remaining quarters of 2016, we remain confident as we are continuing to observe strong demand across most sectors. This is coupled with favorable fuel price and a favourable foreign exchange on major Asian currencies against the USD." Source: Company statement, 29-Aug-2016.