By AFIQ AZIZ / Pic By MUHD AMIN NAHARUL

AirAsia Bhd’s profit jumped 42% to RM505.3 million in the third quarter ended September 2017 (3Q17), helped by higher passengers and additional seats as the low-cost carrier continues to add routes and capitalise on the region’s desire for air travel.

The frills-free airline said the higher profit was attributed to a 12% increase in total passengers carried and the additional 1.4 million seat capacity, a 14% increase compared to the same quarter a year ago.

The carrier also added four aircraft — making its total fleet 110, compared to 106 a year ago.

However, the increase in planes affected its load factor, dropping to 87% compared to 88% in the same period last year.

The group’s revenue increased 15% to RM2.45 billion compared to RM2.13 billion recorded a year ago.

For the nine months of this year, AirAsia’s profit fell 19.4% to RM1.26 billion compared to RM1.57 billion recorded in the previous corresponding year.

But revenue for the nine-month period climbed 41% to RM7.05 billion from RM5 billion a year ago.

For 3Q16, the group’s total net operating profit decreased 8% year-on-year to RM374.2 million from RM405.5 million.

The drop was mainly due to depreciation on engine overhaul costs in the Indonesian segment books, increase in maintenance activities and cost of its Philippine segment.

The group posted earnings per share of 15.1 sen in 3Q17, higher than 12.7 sen in the previous quarter.

AirAsia expects to achieve an average load factor of 87% in the current quarter based on the existing forward booking trend and plans to add another 12 aircraft through operating leases.

“It is in order to better serve the growing demand in the region,” the group said.

“This will be one of the fastest pace of expansion in the last few years, made possible due to the favourable competitive and operating environment of aviation in Asia,” it added.