Malaysia budget carrier Air Asia profits up 4-pct, demand strong

May 25, 2012 (LBO) – Makaysia’s AirAsia, a low cost carrier said profits for the March 2012 rose 4 percent to 167.97 million Ringgit, with revenues growing 11 percent to 1.17 billion rigging. “We have defied industry trends again by achieving a 4 percent growth in net operating profit,” chief executive Tony Fernandes said in a statement.

“This remarkable performance, relative to our peers, signifies our resilient business model in the volatile and cyclical airline business coupled with the current stubborn high oil prices.

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He said the airline was liquid and gearing was 1.26 times and a cash balance of 2.06 billion ringgit.

The airline said demand for low-cost travel remains strong demonstrated by the maintained a high seat factor of 80 percent.

Cost, measured by cost per available seat per kilometer was reported at 13.44 sen (ringgit), a slight increase of 6 percent.

Without fuel, a cost was 7.04 sen per kilometer.