AirAsia predict profitable fourth quarter

AirAsia Berhad is confident that it can deliver stronger results in the fourth quarter, after the airline doubled its third quarter (Q3) pre-tax profit in the wake of capacity increases.

Pre-tax profit for Q3 2012 rose from RM108.49 million in 2011 to RM259.1 million in 2012.

Overall revenue increased by 14 percent to RM1.23 billion, while passenger volume jumped nine percent on the back of capacity increases for aircraft operating in Malaysia.

“Despite the 10 percent increase in capacity, demand in terms of seat load factor remained solid at 77 per cent for the quarter,” AirAsia chief executive Aireen Omar said.

“The fourth quarter is predominantly our strongest quarter. We will continue to launch more routes and add more frequencies to cater to the high demand,” Ms Omar said.

The airline’s cash position remained strong with RM2.2 billion in cash and bank balances.

AirAsia regional development also prospered as Thai AirAsia and Indonesia AirAsia reported double-digit revenue results.

Sourced: etravelblackboardasia