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AirAsia Q2 revenue rises to RM1.18b

August 28, 2012

KUALA LUMPUR: AirAsia Bhd’s revenue for the second quarter ended June 30, 2012 rose to RM1.18 billion from RM1.08 billion in the same quarter of 2011.

Its net operating profit, however, fell to RM130.94 million from RM135.17 million previously.

In a statement today, CEO Aireen Omar said despite the majority of airlines losing money or severely behind in their earnings, AirAsia has continued to outperform each quarter by posting healthy profits.

“Our cash position also remains strong with RM2.16 billion in cash and bank balances and net gearing remained low at 1.10 times,” she said.

Aireen said the company now recognised profit from Thai AirAsia of RM11.9 million and Asian Aviation Centre of Excellence of RM2.2 million.

Moving forward, Aireen said AirAsia was on course for another good year in terms of performance.

“Based on forward bookings, demand remains positive as the Hari Raya Aidilfitri period will push for strong load factors in the third quarter 2012, and positioning itself for a seasonally-strong quarter,” she said.

She said AirAsia was expected to launch more new routes and increase frequencies on few routes within Asean in the second half of the year.

“This will be supported by the deliveries of 13 (as of date) new A320s,” she said.

On fuel prices, Aireen said the airline was constantly monitoring the situation and aimed to match its hedges against forward bookings.

“We will not hesitate to add to its hedges if we perceive an opportunity,” she said.

- Bernama


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