Quantcast
Latest Stories

AirAsia profit soars, bullish on outlook



KUALA LUMPUR—AirAsia, Asia’s largest low-cost carrier by fleet size, said Tuesday that its fourth-quarter profit jumped 168 percent year on year amid increased passengers.

AirAsia said in a statement that net profit for the quarter ending December 31 stood at 350.65 million ringgit ($114.08 million), up from 130.68 million ringgit in the same quarter the previous year thanks to “a seasonally strong quarter.”

Revenue for the quarter was a record 1.41 billion ringgit, up 10 percent, as more people flew the airline, which increased its aircraft in Malaysia to more than 60.

“It has been another good quarter and overall a great year for AirAsia as we continue to defy the industry in terms of operational and financial performance,” said Malaysia AirAsia chief executive officer Aireen Omar.

For the full financial year, AirAsia recorded a 238 percent jump in net profit to 1.88 billion ringgit despite a 1.0 percent rise in the average fuel price this year.

Its 2012 revenue increased by 11 percent to 5.0 billion ringgit.

Group chief executive officer Tony Fernandes was bullish about the year ahead as AirAsia expands its model—no frills and keeping operational costs low.

“The aviation landscape is constantly changing with high fuel prices and new competition, but through all these challenges AirAsia will continue to defend our leadership titles,” he said.

AirAsia has grown rapidly since Fernandes, a former record industry executive, bought the failing airline in 2001. It initially had only two aircraft in operation.

The group now has a total fleet of 120 A320s and has set up subsidiary budget carriers in Indonesia, the Philippines, Thailand and Japan.

The airline, one of the biggest customers for European aircraft maker Airbus, is expecting 360 more aircraft to be delivered up to 2026.

Last week it announced a new airline joint venture with India’s Tata conglomerate.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: AirAsia , Airline , company , Earnings , Malaysia

  • AntiAko

    Go, Air Asia! You made our Malaysian tour cheap, enjoyable and possible.



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Cardinal Tagle: Start new life with true peace
  • ‘Dry spell’ delayed, thanks to busted valve
  • At 77, Erap has Easter treat for Manila cops but keeps City Hall folk in agony
  • Joy Belmonte defends council, waste-to-energy tech
  • House bill seeks special body to manage, protect Manila Bay
  • Sports

  • Pacquiao top Mayweather contender
  • Rain or Shine, Ginebra clash for No. 6 spot
  • Ateneo eyes quarterfinal spot vs Benilde
  • Style contrast marks OneFC ‘Rise of Heroes’
  • ‘Pacquiao a great ambassador for basketball’
  • Lifestyle

  • Levine designs womenswear with help from fiancee
  • Gabriel Garcia Marquez, Nobel laureate, dies at 87
  • Ford Mustang turns 50 atop Empire State Building
  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • Entertainment

  • Why ‘Noah’ can’t dock his ark at Philippine theaters
  • Acclaimed artist goes wild while on holiday
  • Believing in this mermaid
  • Missing Xian
  • Awarded TV couple brings Jesus’ life to the big screen
  • Business

  • Top-selling insurance agent opens her dream café
  • Connecting and transacting with one another
  • Building wealth for health
  • Why Mandaue Foam buys, rather than rents, space
  • A workplace of new possibilities
  • Technology

  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Opinion

  • Epiphany
  • Unpaid creditor vs distressed debtor
  • Moving on
  • From culinary desert to paradise
  • Response to China: ‘Usjaphil’
  • Global Nation

  • Cesar Chavez movie sparks memories of Fil-Am labor leaders
  • Filipinos in US poised for success
  • Visas for priests and other faith leaders
  • DOH to continue tracking co-passengers of OFW infected with MERS virus
  • 5 Filipinos with MERS in UAE reported in stable condition
  • Marketplace