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2017 Q2 Financial Results for Air Asia Group

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KUALA LUMPUR (Aug 24): AirAsia X Bhd's (AAX) net profit surged 4,550% to RM47.44 million for the second quarter ended June 30, 2017 (2QFY17) from RM1.02 million in the previous year's corresponding quarter on the back of foreign exchange gains.


In a statement, AAX said revenue for the quarter jumped 17% to RM1.04 billion from RM883.16 million, driven by a 34% increase in passengers carried, exceeding the 26% increase in seat capacity.


Meanwhile the higher profit for the quarter was attributed to foreign exchange gains of RM28.47 million and higher deferred tax of RM21.02 million.


The group saw lower average base fare of RM455, amid promotional activities to shore up demand. Load factor rose from 75% to 80%, despite the 26% increase in capacity to 8.45 billion.


Revenue per available seat kilometre (RASK) fell 7% year-on-year to 12.28 sen for the quarter, as yields were lower due to the higher capacity on existing routes.


Cost per available seat kilometre (CASK) improved 7% year-on-year (y-o-y) to 12.32 sen while CASK ex-fuel improved 16% y-o-y to 8.13 sen, amid better cost efficiencies and higher aircraft utilisation.


Full Report:



Bursa Malaysia Filing:


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AirAsia 2Q revenue grows 46.5%, net profit dragged down by tax liabilities

 

KUALA LUMPUR (Aug 29): AirAsia Bhd posted a 46.49% revenue growth to RM2.38 billion in the second quarter ended June 30, 2017 (2QFY17) from RM1.62 billion.

However, the low-cost carrier's net profit came in nearly 73% lower at RM92.45 million, from RM342.12 million in the previous corresponding quarter, mainly due to deferred tax liabilities recorded in the quarter, according to a filing to Bursa Malaysia this afternoon.
On prospects, AirAsia said that having participated in the Indonesia Tax Amnesty Program, its Indonesian unit, Indonesia AirAsia (IAA), will no longer be liable for any tax liability prior to year 2016, whilst the existing deferred tax asset in IAA's books prior to year 2016 will also no longer be deductible against future profits.
The group is also planning to increase an additional 22 planes through a combination of finance and operating leases in the second half of 2017.
Full report here:
Bursa Malaysia filing:

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