Strong passenger growth lifts AirAsia X Q1 earnings

KUALA LUMPUR: AirAsia X Bhd posted a net profit of RM41.5mil in the first quarter ended March 31, boosted by higher passenger volume and lower operating cost.

Revenue rose to RM1.26bil.

The higher revenue was driven by a 13% jump in passenger volume to 1.59 million people, which more than offset the 3% drop in average fares, it said in a filing with Bursa Malaysia today.

The long haul budget carrier said the ringgit stronger exchange rate against the US dollar cushioned the impact of rising oil prices.

Its average fuel price rose by a third to US$88 per barrel. Excluding fuel, it cut its costs per unit by 10%.

“The company recognises the challenges posed by the recent hike in fuel prices, and best mitigative efforts are being put forth through the boost in ancillary and capacity numbers,” AirAsia X said.

“The company is confident of presenting the results from these measure during the third and fourth quarters of the financial year,” it added.

Corporate News , Airlines , AirAsia X