Malaysia's AirAsia Q2 net profit up 193 pct on higher load factor
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AirAsia
KUALA LUMPUR (XFN-ASIA) - AirAsia Bhd said its second quarter to December net profit jumped nearly 193 pct year-on-year to 150.1 mln rgt on the back of a higher load factor of 82 pct, up 6 basis points from a year earlier.
Second quarter revenue rose 61 pct year-on-year to 401 mln rgt, with six months revenue amounting to 693.785 mln.
"The combination of higher yields and lower cost enabled us to deliverer a pretax income of 93 mln rgt, an 80 pct growth as compared to the same period last year," said chief executive officer Tony Fernandes in a statement.
"The outlook for the third quarter is looking better relative to the same period last year -- forward bookings suggest that yields will be higher and load factor will be slightly lower," he added.
Third quarter earnings will get a boost from lower fuel prices, a stronger ringgit and the delivery of three Airbus A320 aircraft, he said.
Meanwhile, Fernandes said the issue relating to the treatment of differed taxation has "come to a positive end," as the government has approved the airline's treatment of investment allowance.
(1 usd = 3.50 rgt)
Date posted: 01-Mar-07
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Malaysia's AirAsia Q2 net profit up 193 pct on higher load factor 
