AirAsia X operating profit improves in 4Q2015, still in the red in full year

AirAsia X revenue up 5% - financial highlights:

• Three months ended 31-Dec-2015:
• • Revenue: MYR853.9 million (USD199.5 million), +4.5% year-on-year;
  • • Ancillary: MYR137.4 million (USD32.1 million), -12.8%;
  • Costs:
  • • Maintenance, overhaul, user charges and other related: MYR279.2 million (USD65.2 million), +98.4%;
    • Fuel: MYR232.0 million (USD54.2 million), -35.5%;
  • Operating profit: MYR114.7 million (USD26.8 million), +8.4%;
  • Net profit: MYR201.6 million (USD47.1 million), compared to a loss of MYR168.5 million (USD50.1 million) in p-c-p;
  • Passenger numbers: 985,739, -9%;
  • Load factor: 83%, +2 ppts;
  • Average fare: MYR563 (USD131.5), +22.1%;
  • Revenue per ASK: MYR 14.5 sen (USD 3.4 cents), +15.6%;
  • Cost per ASK: MYR 14.1 sen (USD 3.3 cents), +6.1%;
  • Cost per ASK excl fuel: MYR 10.2 sen (USD 2.4 cents), +30.8%;
  • Average sector length: 4941km, +1%;
• 12 months ended 31-Dec-2015:
• • Revenue: MYR3063 million (USD788.9 million), +4.3%;
  • • Ancillary: MYR476.4 million (USD122.7 million), -18.8%;
  • Costs:
  • • Fuel: MYR1021 million (USD263.0 million), -32.8%;
    • Maintenance, overhaul, user charges and other related: MYR879.6 million (USD226.6 million), +37.8%;
  • Operating profit (loss): (MYR25.2 million) (USD6.5 million), compared to a loss of MYR176.3 million (USD53.9 million) in p-c-p;
  • Net profit (loss): (MYR360.2 million) (USD92.8 million), compared to a loss of MYR519.4 million (USD158.8 million) in p-c-p;
  • Total assets: MYR3989 million (USD1028 million);
  • Deposits, cash and bank balances: MYR313.0 million (USD80.6 million);

Total liabilities: MYR3368 million (USD867.5 million). [more - original PR]

*Based on the average conversion rate at MYR1 = MYR0.2336 for three months ended 31-Dec-2015
*Based on the average conversion rate at MYR1 = MYR0.2576 for 12 months ended 31-Dec-2015
*Based on the average conversion rate at MYR1 = USD0.2972 for three months ended 31-Dec-2014
*Based on the average conversion rate at MYR1 = USD0.3057 for 12 months ended 31-Dec-2014

AirAsia X: "For 2016, the Group will remain vigilant with its expansion plans amidst a challenging operating environment that is expected to persist with currency volatility, regulatory uncertainties and external factors," Kamarudin Meranun, CEO. Source: Company statement, 26-Feb-2016.