AIRASIA POSTS RM92.45M Q2 PROFIT
Earnings dragged down by a one-off deferred tax charge of RM206.88 million
Aone-off deferred tax charge of 647.2 billion rupiah (RM206.88 million) has dragged AirAsia Bhd’s net profit down 72.98 per cent to RM92.45 million for the second quarter ended June this year, from RM342.12 million in the same period a year ago.
Revenue for the low-cost carrier stood at RM2.38 billion in the second quarter, 46.9 per cent higher than previous year’s RM1.62 billion.
The growth was attributed to a 10 per cent increase in total passengers carried and a strong seat load factor of 89 per cent compared with 87 per cent last year.
In its filing to Bursa Malaysia, AirAsia said the airline is projected to achieve an average load factor of 88 per cent in the third quarter of this year based on the existing forward booking trends.
In order to better serve the growing demand in the region, the group said it is also planning to increase an additional 22 planes through a combination of finance and operating leases in the second half of this year.
This will be one of the fastest pace of expansion in the last few years, made possible due to the favourable competitive and operating environment of aviation in Asia, it added.
“For the remaining quarters of this year, we remain optimistic as we continue to observe strong demand across most sectors coupled with a stable fuel price and foreign exchange environment,” said the airline.
“We also remain positive that this year’s results may be better than last year’s barring any unforeseen circumstances,” the carrier added.
Thai AirAsia recorded revenue of 8.35 billion baht (RM1.07 billion) in the quarter, seven per cent higher compared to the 7.77 billion baht achieved last year.
AirAsia India recorded revenue of 3.48 billion (RM231.95 million) rupees in the quarter, 84 per cent higher compared with a revenue of 1.9 billion rupees last year.
In Thailand, AirAsia said load factor in the third quarter of this year is forecast to be 85 per cent based on existing forward booking trend while in India, the forecast load factor for the third quarter of this year is at 86 per cent.