AirAsia X records threefold jump in 1Q18 earnings

by TMR

AirAsia X Bhd posted a net profit of RM41.5 million for the first-quarter ended March 31, 2018 (1Q18), a threefold increase from RM10.34 million recorded the same period a year earlier.

Revenue rose 7.6% year-on-year (YoY) to RM1.27 billion supported by 13% YoY growth in passenger volume, the low cost carrier noted in an exchange filing yesterday.

Load factor was maintained at 84% while average fare fell 3% and seat capacity grew 14% YoY. Cost per available seat kilometre (CASK) fell 2% to 13.27 sen mainly due to the strengthening of the ringgit against the US dollar.

The group said it is putting forth its best mitigative efforts through higher ancillary and capacity numbers to combat fuel price hikes, and is confident of presenting the results from these measures in 3Q18 and 4Q18.

Based on the current forward booking trend, forward loads are trending better than last year, while prospects are expected to remain positive, the carrier noted.