AirAsia Q1 operating profit up 6% to RM254.93m (Update)

KUALA LUMPUR: AirAsia Bhd's
operating profit rose 6% to RM254.93mil in the first quarter ended
March 31, 2013 on higher revenue while it managed to keep its costs in
check.
The low-cost carrier said on Wednesday its revenue increased by 11% to RM1.30bil from RM1.17bil.
The
topline growth was due to a 7% increase in passenger to 5.17 million
and higher ancillary income per pax and average fare. It was also
boosted by higher capacity as the number of aircraft operating in
Malaysia increased to 66.
"Demand in terms of load factor remained strong at 79% despite the 9% increase in capacity this quarter," it said.
AirAsia
CEO, Aireen Omar said the low-cost carrier started off the year
strongly, "driven by an outstanding financial performance last year".
She added its ancillary business was gaining traction with a 7% increase to RM42 per passenger from the same quarter last year.
"Measured
by cost per available seat per kilometer (CASK), CASK ex-fuel was down
by an impressive 5% at 6.83 sen as compared to 7.18 sen the same period
last year.
"But due to the increase in the average fuel price,
the overall CASK stood at 13.62 sen, which is flat on-year," she said.
As for AirAsia's revenue, measured in terms of revenue per available
seat per kilometer (RASK), it was unchanged at 16.89 sen.
Underpinning
this was a 2% increase in average fare in Q1, 2013 to RM180 from RM177
the previous year which offset the 1% decline in load factor.
"This
demonstrates the success of our routes, service quality and strong
brand creating a continuous demand of passenger growth every year.
Ancillary income per pax in this quarter has grown to RM42 from RM40
on-year backed by strong numbers coming in from baggage and cargo," she
said.
It said Thai AirAsia posted record revenue of 6.03bil baht
in the first quarter, an increase of 24% on-year. Operating profit
increased 48% on-year to 931.85mil bath, while profit after tax
increased 19% to 738.96mil bath.
Indonesia AirAsia's revenue
increased 34% to 1,222.48bil rupiah from 911.35bil rupiah. Operating
profit jumped 172% to 41.97bil rupiah from 15.45bil rupiah a year ago.