25-May-2016 10:31 AM
AirAsia X back in the black, fuelled by turnaround plan and China growth
AirAsia X revenue up 25% - financial highlights for three months ended 31-Mar-2016:
- Revenue: MYR970.7 million (USD231.7 million), +25.2% year-on-year;
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- Ancillary: MYR155.9 million (USD37.2 million), +23.2%;
- Costs:
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- Fuel: MYR243.1 million (USD58.0 million), -11.4%;
- Aircraft operating lease: MYR206.5 million (USD49.3 million), +59.3%;
- Operating profit: MYR105.1 million (USD25.1 million), +1672%;
- Net profit (loss): MYR179.5 million (USD42.8 million), compared to a loss of MYR125.9 million (USD34.8 million) in p-c-p;
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- Indonesia AirAsia X: (USD4.6 million), compared to a loss of USD9.4 million in p-c-p;
- Passenger numbers: 1.1 million, +15%;
- Load factor: 82%, +8 ppts;
- Average passenger fare: MYR566 (USD135), +30.7%;
- Revenue per ASK: MYR15.11 sen (USD 3.6 cents), +16.9%;
- Cost per ASK: MYR 13.82 sen (USD 3.3 cents), +7.0%;
- Cost per ASK excl fuel: MYR 10.05 sen (USD 2.4 cents), +20.4%;
- Average sector length: 4964 km, +7%;
- Total assets: MYR4089 million (USD976.3 million);
- Deposits, cash and bank balances: MYR240.0 million (USD57.3 million);
- Total liabilities: MYR3356 million (USD801.2 million). [more - original PR]
*Based on the average conversion rate at MYR1 = USD0.238724
AirAsia X Group: "Moving forward, we remain focus in exploring strategic initiatives to sustain our earnings momentum for sustainable growth in Malaysia and Thailand while we re-evaluate the operation in Indonesia. The industry's challenging environment is expected to persist with currency volatility, regulatory uncertainty and other external headwinds," Datuk Kamarudin Meranun, CEO. Source: Company statement, 24-May-2016.