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Business

AirAsia X soars on forex gains and deferred tax

KUALA LUMPUR: AirAsia X Bhd (AAX) recorded a jump in net profit to RM47.44mil in the second quarter (Q2) ended June 30 from RM1.02mil a year earlier, contributed by foreign exchange (forex) gains and deferred tax.

Business

AirAsia X’s net profit rises on forex gains, deferred tax

KUALA LUMPUR: AirAsia X Bhd (AAX) recorded a jump in net profit to RM47.44mil in the second quarter (Q2) ended June 30 from RM1.02mil a year earlier, contributed by foreign exchange (forex) gains and deferred tax.

Business

Average airfares to continue dropping

KUALA LUMPUR: Average airfares will continue to drop amid competitive pressure despite higher passenger traffic volumes and increasing capacities and destinations. Revenue growth, however, is expected to remain flat this year.

Business

AirAsia’s profit margin squeezed by higher fuel, staff costs

KUALA LUMPUR: AirAsia Bhd, like its sister company AirAsia X Bhd, posted lower earnings in the first quarter (Q1) ended March 31 despite achieving higher revenue, mainly due to soaring fuel cost exacerbated by the strong US dollar.

Business

Qantas, Air NZ flag brighter outlook after price war hits profits

SYDNEY/WELLINGTON: Qantas Airways Ltd and Air New Zealand Ltd reported first-half profit declines as an expansion in capacity by rivals hit international airfares, but both airlines said they expect the fierce competition to moderate.

Business

AirAsia X posts Q2 FY16 operating profit of RM20m

KUALA LUMPUR: Long-haul budget carrier AirAsia X posted an operating profit of RM20.03mil in the second quarter ended June 30, 2016, a stark contrast from the near RM100mil losses a year ago as its load and average base fare increased and it benefited from lower oil prices.

Business

CIMB Research retains AirAsia target price of RM3.13

KUALA LUMPUR: CIMB Equities Research is retaining its target price of RM3.13 for AirAsia after a stunning 1Q16 group core net profit of RM429mil (US$106mil), which was at the higher end of its RM350mil to RM450mil preview and a turnaround from losses last year.

Business

AirAsia X’s turnaround plan continues to show results

KUALA LUMPUR: AirAsia X Bhd (AAX), having returned to the black in the fourth quarter of last year, maintained its healthy performance in the first quarter (Q1) of this year with a net profit of RM179.5mil against a loss of RM125.9mil a year earlier.

Business

Malaysia Airlines posts profit in Feb, says Mueller

KUALA LUMPUR: Malaysia Airlines Bhd posted a profit in February - its maiden positive monthly result - and is on track to return to profitability by 2018, its group chief executive officer Christoph Mueller told AP.

Business

MAS improves operation in the latest quarter

KUALA LUMPUR: Malaysia Airlines has recorded a 10% improvement in revenue per available seat kilometre for the quarter ended Feb 29, 2016.