Jump to content
MalaysianWings - Malaysia's Premier Aviation Portal
Sign in to follow this  
flee

2015 Q1 Financial Results for Air Asia Group

Recommended Posts

web.jpg

 

High forex loss drags AirAsia X further into the red

 

KUALA LUMPUR: High foreign exchange (forex) loss on borrowings widened AirAsia X Bhd’s (AAX) net loss for the first quarter ended March 31 to RM125.92mil from RM11.28mil a year earlier.
The long-haul, low-cost carrier, whose revenue rose 3.5% to RM775.37mil, told Bursa Malaysia that it made forex loss of RM87.2mil during the quarter compared to a forex gain of RM10.1mil in the corresponding period last year.
In the three months under review, the group also recognised a net tax expense of RM8.6mil compared to a net tax allowance of RM36.8mil in the same period in 2014.
There were lower capital allowances claimed this year due mainly to lesser acquisition of property, plant and equipment as well as allowances having been fully claimed in Year Assessment 2014.
On the operating level, AAX recorded a profit of RM6mil, an increase of 118% year-on-year compared to a loss of RM33mil for the same period last year.
AAX closed 1 sen lower at 26.5 sen on Thursday.
Bursa Malaysia filing:

Share this post


Link to post
Share on other sites

The ever falling value of RM is not helping Malaysia economy at all.......Aduima...for example: SGD1= RM2.69 now. Prior to 1997 financial crisis it was almost par.

Share this post


Link to post
Share on other sites

The ever falling value of RM is not helping Malaysia economy at all.......Aduima...for example: SGD1= RM2.69 now. Prior to 1997 financial crisis it was almost par.

Some economists argued that prior to the economic crisis of 1997 the Ringgit was overvalued...

Share this post


Link to post
Share on other sites
AirAsia Returns To Black In Q1 FY2015


KUALA LUMPUR, May 28 (Bernama) -- AirAsia Bhd returned to the black in the first quarter ended March 31, 2015 (FY2015) with a profit after tax of RM149.33 million, RM577.8 million higher compared to the RM428.5 million loss after tax posted in the preceding quarter ended Dec 31, 2014.


Revenue stood at RM1.3 billion on on the back of 5.5 million passengers carried and 75 per cent load factor in the first quarter of 2015.


"During challenging times such as the one we faced, maintaining a disciplined cost structure proved to be an effective strategy yet again," AirAsia Bhd Chief Executive Officer (CEO) Aireen Omar said in a statement here Thursday.


Meanwhile, AirAsia Group CEO Tony Fernandes said the company's performance in the first quarter of the year alone proved that despite the challenges faced, AirAsia was able to post good numbers on the back of a better operating environment and well planned and executed internal strategies.


Moving forward, Fernandes said the restructuring of Malaysia Airlines will bring about healthier competition, which will be good for all industry players and consumers.


"Airline operators in general are now a bit more disciplined in their capacity management, setting the stage for a better operating environment in 2015," he added.


In its filing to Bursa Malaysia, AirAsia said the group sees strong demand in the second quarter of 2015 with average load factor forecast at 80 per cent, partially contributed by the overall improvement in passenger volume from China.


Bursa Malaysia Filing:


Share this post


Link to post
Share on other sites

Actually, this overcapacity situation is quite the debacle amongst the LCCs... it will eventuate into further erosion of yields and a fair amount of consolidation..

 

There is merit for some degree of aircraft trading.. for example (and this is hypothetical, so please no one get their knickers-in-a-twist), if AirAsiaX were to release about 20 of their A330NEO order to MAS, depending on the financials, it could be a win-win for both parties. Similarly the A320NEO. But presumeably, AirAsia is gonna start retiring some of the older A320s with the introduction of the NEO.. are they 320NEO launch customers?

Share this post


Link to post
Share on other sites

Qatar are the A320neo launch customer with the PW engines.

 

AK is already getting rid of their older A320s - they sold and leased back 16 of them. I guess they will not renew the leases when they expire. This strengthens their balance sheet.

 

AK has also converted many A320 CEOs to NEOs. I think that they are only scheduled for 5 deliveries this year, most of them going to the Thai unit.

 

As for D7, it is more likely that they will sell the A350 slots than the A330neo. D7 would prefer to sell their older A330s and have more of the NEOs for their longer routes.

Share this post


Link to post
Share on other sites
Sign in to follow this  

×
×
  • Create New...