KUALA LUMPUR: AirAsia X Bhd’s net profit grew three-fold to RM41.49 million in the first quarter (Q1) ended March 31, 2018 from RM10.34 million.
Revenue increased 7.2 per cent to RM1.27 billion from RM1.18 billion.
In a filing to Bursa Malaysia, AirAsia X said the increase in net profit and revenue were supported by a 13 per cent growth in passenger volume recorded during the quarter.
Despite of a slight reduction in the average fare of three per cent as compared to the same quarter last year, the Group has maintained the load factor of 84 per cent.
During the quarter, the Group has also delivered an additional 231,855 seat capacity which represents a 14 per cent increase as compared to the same quarter last year.
AirAsia X said moving forward, it recognises the challenges posed by the recent hike in fuel prices, and best mitigative efforts are being put forth through the boost in ancillary and capacity numbers.
“The company is confident of presenting the results from these measure during the third and fourth quarters of the financial year.
“Based on the current forward booking trend, forward loads are trending better than the previous year,” it said.