BUSINESS
AirAsia X second-quarter profits soar on forex gains
AirAsia X also saw an increase in passengers carried and higher aircraft leasing income over the period. - Filepic/BERNAMA
AirAsia X Bhd, Malaysia's long-haul budget airline, posted a sharp surge in quarterly profit, driven by foreign exchange gains and realisation of deferred taxes.
The carrier posted a net profit of RM47.4 million ($11.08 million) for the second quarter ended June, versus RM1 million a year ago. Revenue rose 17 percent to 1.04 billion ringgit, from 883.2 million ringgit a year ago.
AirAsia X also saw an increase in passengers carried and higher aircraft leasing income over the period.
The airline noted that passengers carried increased by 34 percent following a 26 percent growth in seat capacity, while aircraft operating lease income rose 15 percent to 123 million ringgit, mainly due to depreciation in the ringgit.
The carrier posted a net profit of RM47.4 million ($11.08 million) for the second quarter ended June, versus RM1 million a year ago. Revenue rose 17 percent to 1.04 billion ringgit, from 883.2 million ringgit a year ago.
AirAsia X also saw an increase in passengers carried and higher aircraft leasing income over the period.
The airline noted that passengers carried increased by 34 percent following a 26 percent growth in seat capacity, while aircraft operating lease income rose 15 percent to 123 million ringgit, mainly due to depreciation in the ringgit.