AirAsia profits rise
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AirAsia Berhad has posted a small rise in profits for the second quarter of 2011. The low-cost carrier group achieved net profits of MYR145.0 million (US$48.6 million) for the three months ending 30 June 2011 – 0.6% more than the same period last year. The company’s revenues increased 15% to MYR1.08 billion, as passenger traffic and ancillary income increased across its three regional business units – Malaysia, Indonesia and Thailand. The airline’s average load factors increased four percentage points to 81%.
“The second quarter is traditionally one of our weaker quarters. But despite the challenging environment in the industry, the team has come through again. Costs have gone up, but much less than among others in the industry. We’ve grown revenues, our cash balance is a healthy MYR1.9 billion,” said AirAsia’s Group CEO, Dr Tony Fernandes.
“We’re well on track in terms of achieving our goals for the year, building on our already strong foundation to enhance growth in the coming months and years,” he added.
Thai AirAsia posted revenues of THB3.76 billion (US$124.0 million) for the quarter, 44% up year-on-year, as passenger traffic jumped 30%. AirAsia Indonesia meanwhile, posted a 37% rise in revenue of IDR895.25 billion (US$104.4 million), supported by a 33% increase in passengers.
Commenting on the company’s outlook for the rest of 2011, Fernandes said that forward bookings were “looking very strong”. He also expressed hope that the easing of oil prices seen over recent weeks would continue. Last quarter AirAsia implemented a fuel surcharge for the first time since 2008.
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