AirAsia returns to profit in Q4 2015
AirAsia reported a Q4 2015 net profit of MYR554.2m (US$131m), reversed from a net loss of MYR428.5m in the year-ago period. The airline said the results were due to lower fares that had stimulated the market and led to a boost in overall passenger numbers, as well as a windfall due to the removal of fuel surcharge.” Revenue rose 47% to MYR2.17b compared to Q4 2014, although CASKs rose 4% to MYR0.14 year-on-year. The company attributed the rise in costs mainly to large increases in aircraft operating lease expenses and a 53% rise in MRO costs year-over-year. Nonetheless, the carrier recorded an operating profit of MYR800.69m, up 276% on Q4 2014, and a net operating profit of MYR694.33, up significantly year-on-year. This was partly due to a traffic growth with 6.47m carried. <br/>
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AirAsia returns to profit in Q4 2015
AirAsia reported a Q4 2015 net profit of MYR554.2m (US$131m), reversed from a net loss of MYR428.5m in the year-ago period. The airline said the results were due to lower fares that had stimulated the market and led to a boost in overall passenger numbers, as well as a windfall due to the removal of fuel surcharge.” Revenue rose 47% to MYR2.17b compared to Q4 2014, although CASKs rose 4% to MYR0.14 year-on-year. The company attributed the rise in costs mainly to large increases in aircraft operating lease expenses and a 53% rise in MRO costs year-over-year. Nonetheless, the carrier recorded an operating profit of MYR800.69m, up 276% on Q4 2014, and a net operating profit of MYR694.33, up significantly year-on-year. This was partly due to a traffic growth with 6.47m carried. <br/>
