WHY MAS loss but AIRASIA PROFIT, So SMALL IS BETTER ha ha ha.
KUALA LUMPUR: AirAsia Bhd posted net profit of RM198.93 million in the second quarter ended June 30, 2010, up 43% from RM139.17 million in the previous corresponding quarter. The low-cost carrier said on Wednesday, Aug 18 that revenue rose 26% to RM940.65 million from RM748 million a year ago. Passenger growth rose 11% to 3.9 million passengers in 2Q while load factor increased to 77% from 75% a year ago.
AirAsia Group CEO Datuk Seri Tony Fernandes said there was massive growth in ancillary income and reached the target of RM40 spending per pax set last quarter. The group’s core operating profit for the period was RM168 million, a 31% increase over the core operating profit achieved a year ago. The core operating profit margin for the period was at 17.9%, 0.7 percentage points higher than the 17.2% core operating profit margin achieved in 2Q09. “There were nil unrealised translation gains in the quarter as gains from the slight strengthening of the Ringgit were offset by losses from the change in the fair value of currency derivatives,” it said.