AirAsia X back in the black, fuelled by turnaround plan and China growth

AirAsia X revenue up 25% - financial highlights for three months ended 31-Mar-2016:

• Revenue: MYR970.7 million (USD231.7 million), +25.2% year-on-year;
• • Ancillary: MYR155.9 million (USD37.2 million), +23.2%;
• Costs:
• • Fuel: MYR243.1 million (USD58.0 million), -11.4%;
  • Aircraft operating lease: MYR206.5 million (USD49.3 million), +59.3%;
• Operating profit: MYR105.1 million (USD25.1 million), +1672%;
• Net profit (loss): MYR179.5 million (USD42.8 million), compared to a loss of MYR125.9 million (USD34.8 million) in p-c-p;
• • Indonesia AirAsia X: (USD4.6 million), compared to a loss of USD9.4 million in p-c-p;
• Passenger numbers: 1.1 million, +15%;
• Load factor: 82%, +8 ppts;
• Average passenger fare: MYR566 (USD135), +30.7%;
• Revenue per ASK: MYR15.11 sen (USD 3.6 cents), +16.9%;
• Cost per ASK: MYR 13.82 sen (USD 3.3 cents), +7.0%;
• Cost per ASK excl fuel: MYR 10.05 sen (USD 2.4 cents), +20.4%;
• Average sector length: 4964 km, +7%;
• Total assets: MYR4089 million (USD976.3 million);
• Deposits, cash and bank balances: MYR240.0 million (USD57.3 million);
• Total liabilities: MYR3356 million (USD801.2 million). [more - original PR]

*Based on the average conversion rate at MYR1 = USD0.238724

AirAsia X Group: "Moving forward, we remain focus in exploring strategic initiatives to sustain our earnings momentum for sustainable growth in Malaysia and Thailand while we re-evaluate the operation in Indonesia. The industry's challenging environment is expected to persist with currency volatility, regulatory uncertainty and other external headwinds," Datuk Kamarudin Meranun, CEO. Source: Company statement, 24-May-2016.