AirAsia’s operating profits up 328% in second quarter. Can the hot streak continue?

AirAsia, the world’s lowest cost airline, has unveiled a 328% increase in core operating profit to in the three months ended 30-Jun-2009, in one of the clearest endorsements to date of the benefits of the LCC model amid this deep economic downturn. [1220 words]

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This report contains the following subheadings:

• Rising non-fuel costs
• Solid ancillary revenue gains helps offset weak yields
• But how fare can ancillaries stretch? Cash conservation vital
• Outlook: Some clouds gathering

This report contains the following charts and tables:

• AirAsia financial highlights for three months ended 30-Jun-2009
• AirAsia financial highlights for six months ended 30-Jun-2009
• AirAsia unit costs breakdown: 2Q2009
• AirAsia ancillary revenue growth and % of total revenue: 1Q2008 to 2Q2009