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2017 Q4 Financial Results for Air Asia Group

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AirAsia X's 4Q net profit more than doubles on higher passenger volume

 

KUALA LUMPUR (Feb 21): AirAsia X Bhd’s (AAX) net profit more than doubled to RM84.41 million in the fourth quarter ended Dec 31, 2017 (4QFY17) from RM39.01 million a year ago, supported by a 12% growth in passenger volume.

Earnings per share rose to 2 sen versus 0.9 sen per share in 4QFY16. Quarterly revenue also increased 4.3% to RM1.22 billion in 4QFY17, from RM1.17 billion in 4QFY16.
This was despite a higher other operating expenses of RM149.73 million in 4QFY17, which included a provision for doubtful debts of RM11.8 million, compared with RM109.32 million in 4QFY16.
In a filing with Bursa Malaysia, the long-haul, low-cost airline said ancillary revenue per passenger increased by 4% to RM142 year-on-year (y-o-y) in 4QFY17.
"The seat load factor was at 83%, which was 2 percentage point higher than the same period last year. However, average fare was down by 8% at RM519, compared with RM565 achieved in 4QFY16," it added.
More:
Bursa Malaysia filing:

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AirAsia X Co-Group CEO Tan Sri Tony Fernandes said, “We begin 2018 focused on our goal to ensure sustainable growth and profits. AirAsia X Group will be adding 6 leased aircraft in 2018 for a total group fleet of 36 A330s by end of 2018. This will be the first year that AirAsia X will be adding aircraft since 2015, demonstrating our confidence in the medium-to-long haul low-cost space.”
“AirAsia X Malaysia and AirAsia X Thailand will add 3 aircraft each in 2018. As for AirAsia X Indonesia, we plan for high yielding routes in 2018 as we continue to turnaround Indonesia. Both North Asia—especially Japan— and India will be a key focus for AirAsia X Group this year as we continue to drive country dominance in our core markets.”
“We look forward to unlock further synergies with AirAsia Group to fully optimise our route network and we are confident of our ability to leverage on our strengths and scale to meet air travel demand.”
“With a healthier balance sheet, stronger liquidity and solid forward bookings, it will provide the necessary cash flow required to continue to expand and reinvest in our business as we strive to be the leader in the medium-to-long haul low-cost market.”
See:

http://airasiax.com/misc/qr/presentation_slide_4Q2017.pdf

Edited by flee

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AirAsia 4QFY17 net profit down 20% on higher tax expenses

 

KUALA LUMPUR (Feb 27): AirAsia Bhd, which encompasses Malaysia, Indonesia and Philippines operations, posted a 19.9% decline in net profit to RM372.65 million in the fourth quarter ended Dec 31, 2017 (4QFY17), from RM465.32 million a year ago, dragged by income tax expense and deferred taxation.

This resulted in a lower earnings per share of 11.2 sen in 4QFY17, compared with 16.7 sen a year earlier.
Quarterly revenue, however, was up 37.2% to RM2.66 billion in 4QFY17 from RM1.94 billion a year ago, due to consolidation of PT Indonesia AirAsia and Philippines AirAsia Inc’s accounts and a 17% year-on-year (y-o-y) increase in the total passengers carried during the current quarter under review.
In a filing with Bursa Malaysia today, AirAsia said the RM40.5 million income tax expense comprises tax payable on interest income for the listed entity and corporate income taxes for its subsidiaries.
AirAsia also said there was a RM99.5 million deferred tax liabilities, arising from the difference between the net book value and tax written down value of property, plant and equipment in the quarter under review.
“The deferred tax assets reduced as capital allowances were utilised in combination with the investment allowances granted,” the filing added.
More:
Bursa Malaysia filing:

AirAsia to double narrowbody fleet size to 500 aircrafts by 2027
KUALA LUMPUR: AirAsia Bhd is seeking to more than double the size of its narrowbody fleet to 500 aircrafts in ten years, targeting to grab a bigger share in the highly competitive and increasingly crowded aviation market in the region.
“AirAsia is optimistic about the growth potential of low-cost air travel, and the potential of our fares to stimulate and grow new markets,” its group CEO Tan Sri Tony Fernandes said in a statement today.
“We will continue to grow our presence and market share in the Asean region, with Vietnam as the final piece of the puzzle to complete our Asean connectivity,” he added.

 


AirAsia's fourth-quarter profit drops 20 percent on fuel, tax costs

 

KUALA LUMPUR (Reuters) - Malaysian low cost airline AirAsia Bhd reported a 20 percent slide in quarterly net profit on Tuesday hurt by higher operating expenses and tax charges.

 

Its fuel expenses rose 66 percent while maintenance and overhaul increased threefold, a financial statement filed to the bourse showed.
Part of that reflected growth as AirAsia expanded its fleet by 17 percent to 123 aircraft.
Its fuel consumption increased 19 percent while fuel prices rose 8 percent.
Higher current and deferred tax charges weighed on the airline’s profits, as well.
Net profit for the three months to December 31 fell to 372.6 million ringgit ($95.39 million) from 465.3 million a year earlier. Revenue rose 37 percent to 2.66 billion ringgit from 1.94 billion, although revenue per available seat km fell 4 percent.
Load factor, a measure of how full its planes are, rose 1 percentage point to 88 percent in the quarter while total passenger volume was up 17 percent to 10.4 million to outpace 16 percent growth in capacity.
The group said it expects to have an average load factor of 87 percent in the first quarter of 2018, based on current forward booking.
The group is also planning for a net increase of five aircraft through operating leases in the first quarter of 2018 to meet growing demand in the region, it said in a bourse filing.
More:

 

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FOURTH QUARTER NET OPERATING PROFIT OF RM549.8 MILLION

FULL YEAR NET OPERATING PROFIT OF RM1.59 BILLION

PROFITABLE QUARTER FOR ALL ASEAN AND INDIA OPERATIONS





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