50 SKY SHADES - World aviation news

AirAsia Berhad posts $64 million 2Q net profit

Download: Printable PDF Date: 24 Aug 2015 13:55 category:
Publisher:
AirAsia Berhad posts $64 million 2Q net profit - Airlines publisher
Tatjana Obrazcova

Malaysian low-cost carrer AirAsia Berhad reported second-quarter net profit of MYR243 million ($64.3 million), a 43.7% year-over-year (YOY) drop from the MYR367.2 million the company posted in the June 2014 quarter. AirAsia said the drop in profit was due to unrealized foreign-exchange losses on borrowings and one-off costs related to the company’s sale and leaseback of aircraft during the quarter.

AirAsia's second-quarter revenue grew 1.1% YOY to MYR1.32 billion, despite "an absence of marketing activities in the first quarter due to the [Dec. 28, 2014]QZ8501 incident which affected forward sales in 2Q15," the company said.

Operating expenses rose 1.1% YOY to MYR1.08 billion; The carrier posted an operating profit of MYR243.5 million, up 39.8% YOY.

The carrier saw 6.7% YOY passenger growth, to 5.95 million passengers, during the quarter. Traffic increased 6.8% YOY to 7.26 billion RPKs, capacity rose 6.6% YOY to 9.1 billion ASKs, and the passenger load factor for the quarter came to 79.8%.

AirAsia's RASK during the second quarter fell 5.3% YOY to [USD] 3.96¢, a drop of 0.22¢. CASK was down 10.8% YOY, to 3.24¢—CASK excluding fuel was up 2.3% YOY, to 1.81¢. AirAsia's average fuel price per barrel fell 25.4% YOY during the quarter, from $114 to $85.

"As seen in 2Q15, we are beneficiary of the low fuel price," AirAsia Group CEO Tony Fernandes said. "As of now, the Group has hedged 50% of its fuel requirements for 2015 at an average cost [USD] $88 per barrel on jet kero and remains unhedged for 2016."

Among AirAsia Berhad's associate/affiliate airlines, Thai AirAsia reported a swing to profitability, with a second-quarter net result of THB374 million ($11 million), marking a YOY increase of MYR692 million. Traffic on Thai AirAsia grew 25.2% YOY to 3.57 billion RPKs as capacity increased 20.3% YOY to 4.41 billion ASKs. The airline's resulting passenger load factor for the quarter came in at 81%.

Indonesia AirAsia's quarterly net loss deepened to IDR486.4 billion ($36.4 million), compared to the carrier's IDR340.3 billion loss in the 2014 June quarter. Indonesia AirAsia traffic fell 4% YOY to 2.2 billion RPKs; capacity was up 1.8%YOY to 3 billion ASKs; passenger load factor for the quarter was 73.4%.

AirAsia Philippines' net loss lessened YOY to PHP777 million ($17.2 million), an improvement over 2Q 2014 by PHP555 million. Traffic on the airline increased 3.5% YOY to 894 million RPKs, capacity decreased 8.1% YOY to 1.15 billion ASKs, and the resulting passenger load factor for the quarter came to 77.6%.

Start-up low-cost subsidiary AirAsia India saw a net loss of INR441.5 million ($6.92 million) for the quarter, but posted operating revenue of INR1.15 billion. Second-quarter traffic was reportedly 332 million RPKs, capacity was 398 million ASKs, and the airline’s passenger load factor was 83.4%. 



Loading comments for AirAsia Berhad posts $64 million 2Q net profit...


Recommended

VoloCity to become first commercial Volocopter aircraft

Volocopter presented the design for its newest air taxi model: VoloCity. This will be the fourth-generation electrical take-off and landing aircraft (eVTOL) by the German Urban Air Mobility develo...

Metrojet completes Global 5000 60-month inspection

Hong Kong-based Metrojet Limited, a business aviation service provider with presence throughout Asia Pacific, announced that its Maintenance, Repair and Overhaul Facility (MRO) in Hong Kong has r...

Hahn Air introduces NDC platform and issues first NDC ticket

Hahn Air, unveiled its new NDC platform. The company is extending its suite of products for partner airlines and travel agencies with a solution powered by IATA’s New Distribution Capability (ND...

CAE and LATAM Airlines Group extend training agreement

CAE and LATAM Airlines Group (LATAM) announced another extension of their existing training agreement, adding six years to this longstanding training partnership. Over the terms of this renewed agreem...