AGL 40.39 Increased By ▲ 0.39 (0.98%)
AIRLINK 127.51 Increased By ▲ 0.47 (0.37%)
BOP 6.61 Decreased By ▼ -0.06 (-0.9%)
CNERGY 4.49 Decreased By ▼ -0.02 (-0.44%)
DCL 8.56 Increased By ▲ 0.01 (0.12%)
DFML 42.05 Increased By ▲ 0.61 (1.47%)
DGKC 87.25 Increased By ▲ 0.40 (0.46%)
FCCL 32.60 Increased By ▲ 0.32 (0.99%)
FFBL 65.16 Increased By ▲ 0.36 (0.56%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.50 Decreased By ▼ -0.07 (-0.06%)
HUMNL 14.58 Decreased By ▼ -0.10 (-0.68%)
KEL 5.13 Increased By ▲ 0.08 (1.58%)
KOSM 7.54 Increased By ▲ 0.08 (1.07%)
MLCF 41.60 Increased By ▲ 0.22 (0.53%)
NBP 59.53 Decreased By ▼ -0.88 (-1.46%)
OGDC 194.39 Increased By ▲ 4.29 (2.26%)
PAEL 28.15 Increased By ▲ 0.32 (1.15%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 151.89 Increased By ▲ 1.83 (1.22%)
PRL 26.50 Decreased By ▼ -0.38 (-1.41%)
PTC 16.05 Decreased By ▼ -0.02 (-0.12%)
SEARL 82.50 Decreased By ▼ -3.50 (-4.07%)
TELE 7.46 Decreased By ▼ -0.25 (-3.24%)
TOMCL 35.40 Decreased By ▼ -0.01 (-0.03%)
TPLP 8.19 Increased By ▲ 0.07 (0.86%)
TREET 16.20 Decreased By ▼ -0.21 (-1.28%)
TRG 52.80 Decreased By ▼ -0.49 (-0.92%)
UNITY 26.50 Increased By ▲ 0.34 (1.3%)
WTL 1.24 Decreased By ▼ -0.02 (-1.59%)
BR100 9,941 Increased By 57.7 (0.58%)
BR30 30,868 Increased By 268.4 (0.88%)
KSE100 93,887 Increased By 531.2 (0.57%)
KSE30 29,089 Increased By 158.1 (0.55%)

Malaysia's long-haul budget carrier AirAsia X Bhd logged a four-fold jump in quarterly profit on Tuesday, courtesy of higher passenger volume and shrinking costs. Net profit for the January-March quarter rose to 41.5 million ringgit ($10.47 million) from 10.3 million a year earlier while revenue rose 7.2 percent to a record 1.3 billion.
AirAsia X saw an increase in passenger volume of 13 percent which the carrier attributed mainly to new routes started since mid-2017. Moving capacity from some Australian routes to flights to the North Asian market also helped. AirAsia X said its cost per unit fell 2 percent year mainly due to the ringgit strengthening against the dollar. The ringgit strengthened 4.5 percent in the first quarter, helping offset a rise in oil prices.
Its average fuel price rose 33 percent to $88 per barrel, the airline said. Excluding fuel, it cut its costs per unit by 10 percent. "The company recognises the challenges posed by the recent hike in fuel prices, and best mitigative efforts are being put forth through the boost in ancillary and capacity numbers," the airline said in a bourse filing.
AirAsia X maintained an unchanged load factor - the measure of how full its planes are - of 84 percent while expanding capacity by 14 percent. It carried 1.59 million passengers in the quarter. AirAsia X's share price closed 1.3 percent higher.
Tony Fernandes, the group CEO of its parent, recently accused the Malaysian Aviation Commission of pressuring the airline to cancel flights meant to transport voters home for a recent general election. The regulator has denied the allegation and filed a police complaint against Fernandes.

Copyright Reuters, 2018

Comments

Comments are closed.