Wednesday, 22 May 2013

AirAsia Q1'13

Foreign exchange loss reduced its increased net operating profit compared to the contribution of Q1'12.  Although this quarter's net profit is lower, but most of the business in Indonesia, Thailand, Philippine, and Japan are improved.  It's a good sign.

AirAsia Q1 operating profit up 6% to RM254.93m (Update)

KUALA LUMPUR: AirAsia Bhd's operating profit rose 6% to RM254.93mil in the first quarter ended March 31, 2013 on higher revenue while it managed to keep its costs in check.

The low-cost carrier said on Wednesday its revenue increased by 11% to RM1.30bil from RM1.17bil.

The topline growth was due to a 7% increase in passenger to 5.17 million and higher ancillary income per pax and average fare. It was also boosted by higher capacity as the number of aircraft operating in Malaysia increased to 66.

"Demand in terms of load factor remained strong at 79% despite the 9% increase in capacity this quarter," it said.

AirAsia CEO, Aireen Omar said the low-cost carrier started off the year strongly, "driven by an outstanding financial performance last year".

She added its ancillary business was gaining traction with a 7% increase to RM42 per passenger from the same quarter last year.

"Measured by cost per available seat per kilometer (CASK), CASK ex-fuel was down by an impressive 5% at 6.83 sen as compared to 7.18 sen the same period last year.

"But due to the increase in the average fuel price, the overall CASK stood at 13.62 sen, which is flat on-year," she said. As for AirAsia's revenue, measured in terms of revenue per available seat per kilometer (RASK), it was unchanged at 16.89 sen.

Underpinning this was a 2% increase in average fare in Q1, 2013 to RM180 from RM177 the previous year which offset the 1% decline in load factor.

"This demonstrates the success of our routes, service quality and strong brand creating a continuous demand of passenger growth every year. Ancillary income per pax in this quarter has grown to RM42 from RM40 on-year backed by strong numbers coming in from baggage and cargo," she said.

It said Thai AirAsia posted record revenue of 6.03bil baht in the first quarter, an increase of 24% on-year. Operating profit increased 48% on-year to 931.85mil bath, while profit after tax increased 19% to 738.96mil bath.

Indonesia AirAsia's revenue increased 34% to 1,222.48bil rupiah from 911.35bil rupiah. Operating profit jumped 172% to 41.97bil rupiah from 15.45bil rupiah a year ago.


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