AirAsia's pre-tax profit jumps to RM2.17 bln

Airasia Bhd's pre-tax profit for the financial year ended Dec 31, 2016 jumped to RM2.16 billion from RM215.15 million in the same period of 2015.

Revenue rose to RM6.92 billion from RM6.29 billion previously, it said in a filing to Bursa Malaysia today.

AirAsia attributed its better revenue performance to passenger growth, higher ancillary income per passenger year-on-year and an increase in average fares, which rose six per cent to RM167.

It said its seat load factor for the financial year was at 87 per cent, six per cent higher than 2015.

For the fourth quarter ended Dec 31, 2016, the budget airline's pre-tax profit declined to RM349.19 million from RM434.51 million in the same quarter of 2015.

Its revenue declined to RM1.94 billion from RM2.17 billion previously.

AirAsia said the lower revenue for the quarter under review was due to the 48 per cent decrease in aircraft operating lease income and a decline in ancillary income per passenger.

For 2017, AirAsia remained confident of its prospects as it continued to observe strong demand across most sectors, coupled with favourable fuel price environment. -- Bernama