AirAsia revenue down 1.2%, profit narrows in 4Q2009

AirAsia revenue down 1.2% - consolidated financial highlights:

• Three months ended 31-Dec-2009:
  • Revenue: USD262.5 million, -1.2% year-on-year;
    • Ancillary: USD29.0 million, +34%;
    • AirAsia Thailand/: USD87.9 million, +26%;
    • AirAsia Indonesia<: USD61.9 million, +22%;
  • Cost of sales: USD150.6 million, +2.4%;
  • Other operating costs: USD17.4 million, +127.0%;
  • Operating profit (loss): USD94.1 million, -25.4%;
    • AirAsia Thailand/: USD10.1 million, +301%;
    • AirAsia Indonesia<: (USD3.9 million), compared to a profit of USD806,545 in the previous corresponding period;
  • Profit before tax: USD70.6 million, compared to a loss of USD126.0 million in the previous corresponding period;
  • Net profit: USD22.5 million, compared to a loss of USD59.2 million in the previous corresponding period;
  • Passenger numbers^: 4.0 million, +20%;
    • AirAsia Thailand/: 1.4 million, +68%;
    • AirAsia Indonesia: 939,703, +49%;
  • Load factor: 79.4%, +1.0 ppt;
    • AirAsia Thailand: 81%, +6.0 ppts;
    • AirAsia Indonesia: 74%, +5.3 ppts;
  • Average fare: USD51.6, -23%;
    • AirAsia Thailand: USD54.1, -27%;
    • AirAsia Indonesia<: USD58.5, -21%;
  • Ancillary revenue per passenger: USD7.2, +11%;
  • Unit passenger revenue: USD58.9, -20%;
  • Revenue per ASK: USD 4.17 cents, -18%;
  • Cost per ASK: USD 3.26 cents, -14%;
  • Cost per ASK excl fuel: USD 1.87 cents, stable;
• 12 months ended 31-Dec-2009:
  • Revenue: USD932.2 million, +11.5%;
    • Ancillary: USD121.8 million, +77%;
    • AirAsia Thailand: USD281.9 million, +5%;
    • AirAsia Indonesia<: USD216.4 million, +32%;
  • Cost of sales: USD527.1 million, -10.3%;
  • Other operating costs: USD51.0 million, +63.7%;
  • Operating profit (loss): USD376.8 million, +59.2%;
    • AirAsia Thailand: USD4.5 million, compared to a loss of USD22.2 million in the previous corresponding period;
    • AirAsia Indonesia<: (USD8.5 million), compared to a loss of USD15.1 million in the previous corresponding period;
  • Profit before tax: USD187.5 million, compared to a loss of USD254.9 million in the previous corresponding period;
  • Net profit: USD161.0 million, compared to a loss of USD145.6 million in the previous corresponding period;
  • Passenger numbers: 14.3 million, +21%;
    • AirAsia Thailand: 5.0 million, +23%;
    • AirAsia Indonesia: 3.5 million, +40%;
  • Load factor: 75.0%, -0.4 ppt;
    • AirAsia Thailand: 75.6%, -0.2 ppt;
    • AirAsia Indonesia: 74%, -0.2 ppt;
  • Average fare: USD49.3, -17%;
    • AirAsia Thailand: USD50.1, -17%;
    • AirAsia Indonesia<: USD54.1, -10%;
  • Ancillary revenue per passenger: USD8.5, +46%;
  • Unit passenger revenue: USD57.9, -12%;
  • Revenue per ASK: USD 3.97 cents, -8%;
  • Cost per ASK: USD 3.05 cents, -19%;
  • Cost per ASK excl fuel: USD 1.80 cents, +14%. [more]

*Based on the conversion rate at USD1 =MYR3.41
/Based on the conversion rate at USD1 = THB33.08
<Based on the conversion rate at USD1 = IDR9,320
^Operating figures are for Malaysian operations only

AirAsia: "There are early signs the global economy is stabilising and the benefits are already visible in the aviation industry. Passenger traffic growth has been growing with ticket price slowly moving upwards with tighter supply demand conditions. Based on current forward booking trend, the underlying passenger demand in the first quarter remains positive. The support for our new route launches has been encouraging with high loads and satisfactory yields," Company Statement. Source: AirAsia, 25-Feb-2010.