AIRASIA FLIES INTO RM1.09b PROFIT IN Q1

KUALA LUMPUR: AirAsia Bhd’s net profit surged 86.6 per cent to RM1.09 billion in the first quarter ended March 31 from RM584.25 million a year ago.

Revenue rose 15 per cent yearon-year to RM2.56 billion from RM2.23 billion previously, supported by strong load factor of 87 per cent and 16 per cent rise in passengers carried to 10.65 million.

In a statement, AirAsia said revenue per available seat kilometre for the consolidated units of Malaysia, Indonesia and Philippines was 14.68 sen, down two per cent from 14.91 sen, due to a 19 per cent rise in extra capacity.

It said average fare per passenger increased marginally to RM171.

AirAsia said ancillary revenue for the consolidated group rose 11 per cent to RM505.1 million from RM 454.6 million previously. Meanwhile, Air Asia group chief executive officer Tan Sri Tony Fernandes said the company would be undertaking a secondary listing exercise for its Indonesian operations this year while AirAsia Philippines was on track for flotation in the second half of next year.

The company expects to achieve an average load factor of 87 per cent in the second quarter as well, based on the existing forward booking trends of Malaysia AirAsia, Indonesia AirAsia and Philippines AirAsia.

AirAsia announced an interim single-tier dividend of 12 sen per share for the year ending December 31 2018.