AAX earnings up in Q1 on lower expenses

Fernandes claimed that AirAsia X was

PETALING JAYA: Lower expenses helped lift AirAsia X Bhd’s (AAX) earnings despite lower revenue.

The long-haul budget carrier’s net profit improved 4.4% to RM43.3mil for the first quarter ended March 31, 2019, from RM41.5mil in the previous corresponding quarter. The group’s earnings per share were unchanged at one sen.

AAX’s revenue dipped 8.1% to RM1.17bil in the first quarter from RM1.27bil previously as a result of lower average base fare at RM513 in the first quarter, compared with RM527 in the same period a year ago.

In a filing with Bursa Malaysia, AAX noted the lower revenue was the main cause of the group posting a net operating loss of RM29.5mil in the first quarter, a reversal from a net operating profit of RM58.3mil in the same period a year ago.

For the quarter in review, AAX saw a decrease of 3% in cost per average seat kilometre (ASK) to 12.89 sen from 13.30 sen due to reduction in fuel price to US$79 per barrel from US$88 per barrel previously.

It registered lower passenger numbers at 1.51 million, compared with 1.59 million previously, while its load factor was relatively unchanged at 83% in the first quarter compared with 84% in the same quarter last year. Revenue per ASK was lower at 13.43 sen, compared with 13.96 sen previously.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

AirAsia X , earnings , up , Q1 , lower expenses , revenue , Bursa , passenger ,


Next In Business News

Bursa Malaysia ends near flat on cautious note
Lufthansa CEO sees business travel recovering faster than thought
PNB launches wakaf ASNB service
BNM's international reserves at US$115.6bil as at Oct 15, 2021
Annum partners Greentech IOT for RM62.25mil Sarawak Water Supply subcontract works
EPF members can access more funds via i-Invest
Singapore plans electricity imports to boost security, diversify supply
Public Bank’s proactive measures enable SMEs rebuild businesses
Asian shares firm, dollar weak as traders eye earnings
Genetec 2Q net profit surges due to electric vehicle sector

Others Also Read