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2019 Q1 Financial Results for Airasia Group/Airasia X
Posted 16 May 2019 - 09:17 PM
SEPANG, 16 MAY 2019 AirAsia X Berhad (AirAsia X or the Company) today reported its financial results for the First Quarter of 2019 (1Q19).
The Company recorded a net profit of RM43.3 million for the quarter, up by 4% year-on-year (YoY) from the previous years RM41.5 million. Revenue was lower at RM1.17 billion, on the back of lower passengers carried. In 1Q19, the number of passengers carried recorded was 5% lower YoY at 1,512,546 as compared to 1,588,644 passengers carried in 1Q18. The drop in number of passengers carried came in the wake of Available Seat Kilometre (ASK) which dropped 5% during the quarter due to shorter stage routes in operation following the termination of Tehran, Kathmandu, Male and most recently, Auckland in February 2019. The YoY drop in passengers and ASK is a result of the Companys ongoing capacity management which saw realignment of flights which leads to softer aircraft utilisation. The available capacity has since been redeployed to core markets in Greater China, Japan, South Korea and India.
Posted 28 May 2019 - 04:08 PM
Posted 14 June 2019 - 07:28 AM
For an airline mogul staring down the barrel of a hostile global economy, Tony Fernandes seems strangely optimistic, not just for AirAsia Group, but for his native Malaysia, too.
"It's an exciting and deeply promising moment all around," Fernandes told the Nikkei Asian Review in the airline's frenetic headquarters at Kuala Lumpur International Airport.
Some investors may tell a different story. The carrier he founded in 2001 is losing altitude amid global trade war, high fuel costs and competition lowering fares. The shares are down a third from an all-time high in February 2018.
AirAsia is profitable in Malaysia, but operations in Indonesia, Thailand and elsewhere are either losing money or seeing earnings drop. Net income slipped 92% in the three months through March from a year ago.
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