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AirAsia revenue up, profit down
by hlk Wed 23 Nov 2011, 09:57
KUALA LUMPUR: AirAsia Bhd registered a lower pre-tax profit of RM456.41 million for the first nine months of 2011, compared to RM710.73 million during the same period last year.
Revenue for the three quarters, however, rose to RM3.2 billion from RM2.78 billion previously.
In a statement yesterday, the airline said its pre-tax profit for the third quarter ended September 30 2011, fell to RM108.5 million compared to RM310.34 million in the corresponding quarter last year.
Revenue for the three-month period grew to RM1.08 billion from RM979.71 million.
Commenting on the results, AirAsia chief executive officer Tan Sri Tony Fernandes said monetising its ancillary investment, which has always been one of AirAsia's key strategies allowing it to focus on its core competencies, had been fruitful.
"The Asian Aviation Centre of Excellence (a joint venture with CAE) recorded a net profit of RM6.2 million and AAE Travel (its jont venture with Expedia) recorded a net profit of RM14 million in the first quarter," he said. Both joint ventures were launched in July 2011. Bernama
Revenue for the three quarters, however, rose to RM3.2 billion from RM2.78 billion previously.
In a statement yesterday, the airline said its pre-tax profit for the third quarter ended September 30 2011, fell to RM108.5 million compared to RM310.34 million in the corresponding quarter last year.
Revenue for the three-month period grew to RM1.08 billion from RM979.71 million.
Commenting on the results, AirAsia chief executive officer Tan Sri Tony Fernandes said monetising its ancillary investment, which has always been one of AirAsia's key strategies allowing it to focus on its core competencies, had been fruitful.
"The Asian Aviation Centre of Excellence (a joint venture with CAE) recorded a net profit of RM6.2 million and AAE Travel (its jont venture with Expedia) recorded a net profit of RM14 million in the first quarter," he said. Both joint ventures were launched in July 2011. Bernama
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