AirAsia X posts Q3 net profit of RM11m

> Back in the black on higher sched­uled flight rev­enue, an­cil­lary in­come and air­craft op­er­at­ing lease in­come

The Sun (Malaysia) - - SUNBIZ -

PETALING JAYA: AirAsia X Bhd (AAX) re­turned to the black in the third quar­ter ended Sept 30, 2016, post­ing a net profit of RM11.03 mil­lion against a net loss of RM288.19 mil­lion in the cor­re­spond­ing pe­riod last year, thanks to an in­crease in sched­uled flight rev­enue, an­cil­lary in­come and air­craft op­er­at­ing lease in­come.

Rev­enue ex­panded 23.9% to RM982.4 mil­lion from RM793.01 mil­lion.

In a fil­ing with the stock ex­change, the long-haul, bud­get car­rier said for the quar­ter un­der re­view, the num­ber of pas­sen­gers car­ried in­creased 35%, bring­ing the load fac­tor up 3% to 78% de­spite a 34% ca­pac­ity in­jec­tion to 7.75 bil­lion from 5.77 bil­lion avail­able seat kilo­me­tre com­pared with the same pe­riod last year.

Its aver­age base fare recorded a 14% growth to RM501 on the back of healthy de­mand, mainly from the China and North Asia mar­kets.

While the group’s rev­enue per avail­able seat kilo­me­tre was down 8% from 13.78 sen to 12.70 sen due to yield pres­sure aris­ing from in­creased ca­pac­ity on ex­ist­ing routes, it stressed that cost per avail­able seat kilo­me­tre was sig­nif­i­cantly re­duced to 12.06 sen against 14.32 sen dur­ing the same pe­riod last year.

AAX said it is on track to record its first full-year profit since its list­ing in July 2013.

Based on the cur­rent for­ward book­ing trend, the group fore­sees the num­ber of pas­sen­gers to be car­ried in the fourth quar­ter re­main­ing promis­ing as for­ward loads and aver­age fares are trend­ing bet­ter than in the pre­vi­ous year.

“Bar­ring any un­fore­seen cir­cum­stances, in­clud­ing but not lim­ited to ter­ror­ist at­tacks, nat­u­ral dis­as­ters, epi­demics, eco­nomic down­turn, fuel price hike and fluc­tu­a­tion in for­eign cur­ren­cies against the ring­git, the group ex­pects its prospects to re­main pos­i­tive,” it said.

For the first nine months of the year, AirAsia X re­ported a net profit of RM191.53 mil­lion ver­sus a net loss of RM547.05 mil­lion in the same pe­riod last year. This was achieved on the back of a 27.7% in­crease in rev­enue to RM2.84 bil­lion from RM2.22 bil­lion.

REUTERSPIX

An AirAsia X plane sits on the tar­mac at Kuala Lumpur In­ter­na­tional Air­port.

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