AirAsia X Q1 net profit up to RM43.33 mln

KUALA LUMPUR: Airasia X Bhd posted a higher net profit of RM43.33 million for the first quarter ended March 31, 2019 (1Q19) from RM41.50 million recorded in the same period last year.

However, revenue was lower at RM1.17 billion versus RM1.27 billion previously, due to the number of passengers which declined by five percent year-on-year (y-o-y) to 1.51 million from 1.58 million in 1Q18.

“We faced a number of setbacks in the past year, namely provision for impairment for the Indonesian joint-venture, a 35 per cent y-oy increase in average fuel prices and a series of natural disasters in markets we operate in -factors which are not within the company’s control.

“However, AirAsia X’s lean and disciplined cost structure has allowed us to deliver despite uncertainties in fuel and currency,” group chief executive officer, Nadda Buranasiri said in a statement yesterday.

Commenting on the company’s outlook, he said the low-cost airline would maintain a firm blueprint to pilot AirAsia X’s growth as a group.

Buranasiri also said AirAsia X Malaysia would not be taking in additional aircra this year as it was anticipating the delivery of the brand new fuel-efficient A330neo aircra late next year.

“We are currently focusing on reaching optimal route performance, strengthening the China and Japan (markets), where our brand presence is stronger than ever, in addition to building the South Korea and India (markets), which boasts potential for more unique routes,” he added.