AirAsia posted a net profit after tax of 224.11 million Malaysian ringgit (US$68 million) for the first quarter of the year, up 10 percent on a year ago.

Published: 03 Jun 2010

AirAsia posted a net profit after tax of 224.11 million Malaysian ringgit (US$68 million) for the first quarter of the year, up 10 percent on a year ago.

The comany’s revenue for the quarter, ending March 31, was up by 10 percent year-on-year to RM 873,041 million.

The company’s ancillary revenue increased by 31 percent. Ancillary income contributed 16 percent to the company’s total revenue. The company shared that ancillary income per pax was RM38.1. AirAsia’s chief executive Tony Fernandes said the airline is on its way to achieve the target of RM 40 spending per tax.

“The numbers reaffirm our conviction that ancillary is a revenue stream that can boost our bottom line and also serve as a buffer to rising fuel prices,” Fernandes said.

Overall, revenue from each passenger dropped only seven percent, to RM210, compared with RM227 a year ago.

Fernandes said his outlook was optimistic. “'Troubles in the euro zone could become a drag on the global economic recovery. But Asia, which is leading the world out of the slump and which represents AirAsia’s focus, appears to be showing little signs of a slowdown.”