flee 5 Report post Posted February 25, 2010 KUALA LUMPUR: AirAsia Bhd announced a pre-tax profit of RM639.317mil for the year ended Dec 31, 2009, a turnaround from a pre-tax loss of RM869.198mil in 2008. In contrast to the aviation industry gloom, AirAsia Group CEO Tony Fernandes said the budget airlines’ revenue for the year was higher by 11.5% to RM3.179bil against RM2.851bil previously. In a statement, AirAsia said its passenger growth registered a healthy 21% increase to 14.2 million in the Malaysian operations. The combined Malaysian, Thailand and Indonesian operations carried 24% more passengers, totalling 22.7 million, it said. Fernandes said: “We have successfully grown our market share in every market we served, opened up four new bases (Penang, Bandung, Phuket and Surabaya), launched new routes and amassed RM748mil cash in the balance sheet as a bulwark against any contingencies that may arise.” Full report here: http://biz.thestar.com.my/news/story.asp?file=/2010/2/25/business/20100225204953&sec=business Reuters report in Business Times: http://www.btimes.com.my/Current_News/BTIMES/articles/20100225191155/Article/index_html Financial Report: http://announcements.bursamalaysia.com/EDMS/edmsweb.nsf/all/55EA9620B28F9A9D482576D5003B1A48/$File/AirAsia_Bursa%20Announcement_Q4%202009_FINAL.pdf Share this post Link to post Share on other sites
Kenneth T 0 Report post Posted February 25, 2010 A successful business model with proven track record. Share this post Link to post Share on other sites
flee 5 Report post Posted February 26, 2010 A successful business model with proven track record. The financial report made interesting reading. The additional pax carried also paid lower fares than in 2008 (partly explained by the removal of fuel surcharges and admin fees). For 2010, we can see average fares rising over what was charged in 2009 because they have increased baggage charges as well as introduced the convenience fee for payments. We are also beginning to see more contributions from the Thai and Indonesia AirAsia operations as they move more of their flights to the higher capacity and more fuel efficient A320s. Share this post Link to post Share on other sites
