TransAsia Airways reports sharp profit declines in 2011

TransAsia Airways revenue up 5% - financial highlights for 12 months ended 31-Dec-2011:

• Operating revenue: TWD8741 million (USD298.8 million), +4.6% year-on-year;
• Operating costs: TWD7330 million (USD250.6 million), +9.4%;
• Operating expense: TWD787.5 million (USD26.9 million), +13.0%;
• Operating profit: TWD623.9 million (USD21.3 million), -35.0%;
• Net profit: TWD664.0 million (USD22.7 million), -27.6%;
• Total assets: TWD11,696 million (USD399.9 million), +9.2%;
• Cash and cash equivalents: TWD1207 million (USD41.3 million), -8.3%;
• Total liabilities: TWD4369 million (USD149.4 million), -13.0%.

*Based on the average conversion rate at USD1 =TWD29.2507