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Principale » AirAsia X second-quarter profits soar on forex gains

AirAsia X second-quarter profits soar on forex gains

24 Août 2017

Petron Malaysia Refining & Marketing Bhd's net profit grew 48% to RM91 million in its second quarter ended June 30, 2017 (2QFY17), from RM61.53 million a year ago, thanks to one-off gain from the disposal of service stations to the government.

However, for the period under review, the airline's bottom-line was propped up partly by a foreign exchange (forex) gain on borrowings of RM31.90mil, a contrast from a forex loss of RM31.26mil a year earlier.

The higher revenue was due to a 34% rise in passengers carried to 1.39 million on the back of a 26% increase in seat capacity.

Average base fare was slashed by 14% y-o-y from RM526 to RM455 as a strategy to stimulate demand.

Load factor is 5 percentage point higher at 80%.

Revenue per ASK (RASK) fell 7% to 12.28 sen due to increased capacity on existing routes, resulting in lower yields while cost per ASK (CASK) improved 7% to 12.32 sen.

Sébastien Bourdais de retour en compétition dès ce week-end
C'est un peu incroyable et je suis impatient de découvrir la nouvelle surface du Gateway ce week-end. Les termes de l'accord qui a acté le retrait de Gutierrez n'ont pas été divulgués.

On the other hand, cost of available seat kilometre (CASK) improved 7% y-o-y to 12.32 sen while CASK ex-fuel improved 16% y-o-y to 8.13 sen.

"The second quarter for AirAsia X Malaysia has seen more ASK capacity injected as compared to the same quarter a year ago".

In a separate statement, Group Chief Executive Officer Datuk Kamarudin Meranun said despite challenging market conditions, AirAsia X managed to deliver "a historically lean quarter which again attests to the commercial viability of the long-haul low-priced model".

The quarterly performance was helped by aircraft leasing income growing 15 percent over the period to 123 million ringgit, mainly due to the depreciation of the ringgit, while ancillary revenue grew 41 percent from a year ago to 193.5 million ringgit.

AAX said forward loads are trending better than in the previous year, based on the current booking trend and expects prospects to remain positive, barring unforeseen circumstances.

AirAsia X second-quarter profits soar on forex gains