AirAsia returns to black in Q1 FY2015

AirAsia Bhd returned to the black in the first quarter ended March 31, 2015 (FY2015) with a profit after tax of RM149.33 million, RM577.8 million higher compared to the RM428.5 million loss after tax posted in the preceding quarter ended Dec 31, 2014.

Revenue stood at RM1.3 billion on on the back of 5.5 million passengers carried and 75 per cent load factor in the first quarter of 2015.

"During challenging times such as the one we faced, maintaining a disciplined cost structure proved to be an effective strategy yet again," AirAsia Bhd Chief Executive Officer (CEO) Aireen Omar said in a statement here today.

Meanwhile, AirAsia Group CEO Tony Fernandes said the company's performance in the first quarter of the year alone proved that despite the challenges faced, AirAsia was able to post good numbers on the back of a better operating environment and well planned and executed internal strategies.

Moving forward, Fernandes said the restructuring of Malaysia Airlines will bring about healthier competition, which will be good for all industry players and consumers.

"Airline operators in general are now a bit more disciplined in their capacity management, setting the stage for a better operating environment in 2015," he added.

In its filing to Bursa Malaysia, AirAsia said the group sees strong demand in the second quarter of 2015 with average load factor forecast at 80 per cent, partially contributed by the overall improvement in passenger volume from China.