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AirAsia X 2016 pre-tax profit is RM251.18 million

Syndicated News
Written by Syndicated News

KUALA LUMPUR — February 22, 2017: AirAsia X has posted a pre-tax profit of RM251.18 million for the financial year ended last December 31 compared to a pre-tax loss of RM446.48 million the year before.

Its revenue too jumped to RM4.01 billion from RM3.06 billion.

In a filing to Bursa Malaysia today, the long-haul budget airline attributed the better performance to the increase in passenger load, higher ancillary revenue, better aircraft operating lease income plus improved freight and cargo
revenue.

In 2016, AirAsia X carried 29.7 per cent more passengers of 4.69 million, resulting in improvement of four per cent in load factor.

Ancillary revenue rose by 34.9 per cent to RM642.7 million in 2016 while aircraft operating lease income grew
60.6 per cent to RM440.1 million.

Freight and cargo revenue increased by 25.5 per cent to RM134.9 million due to higher tonnage transported.

But for the fourth quarter of 2016, AirAsia X’s pre-tax profit fell to RM29.88 million from RM124.61 million on the back of higher revenue of RM1.17 billion from RM841.14 million.

Based on the current forward booking trend, forward loads and average fares were trending better than the previous year.

However, the depreciation of the ringgit is a key concern as large portions of AirAsia X’s borrowings and operating costs are in US dollars, said the company. — Bernama

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