UALA LUMPUR, 24 May
2012: Southeast Asia’s largest budget carrier AirAsia posted a 4.0% increase in
first-quarter net profit, Wednesday, with the company citing a solid business
model as the reason.
Net profit for the
quarter ending 31 March was 167.97 million ringgit (US$53.4 million), compared
with 161.9 million a year earlier, the airline said in a statement.
It posted a record
quarter revenue of 1.17 billion ringgit, up 11%, from 1.05 billion in the same
quarter last year, the company added.
Group chief executive
officer Tony Fernandes said the airline had defied industry trends by achieving
the percentage growth in net operating profit.
“This remarkable performance,
relative to our peers, signifies our resilient business model in the volatile
and cyclical airline business coupled with the current stubborn high oil
prices,” he said.
For the quarter ended
31 March, rival carrier Malaysia Airlines reported its fifth consecutive loss
amounting to 171.8 million ringgit, compared with a loss of 242.3 million a
year earlier.
AirAsia said the
revenue growth came on the back of 12% growth in passenger numbers and plane
availability which saw the number of aircraft operating in Malaysia increase to
57.
http://www.ttrweekly.com/site/2012/05/airasia-net-profit-up-4-0/
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