Financial Round Up
AirAsia reports higher profit
June 1st 2015
The first quarter profit of the Malaysia-headquartered AirAsia group has increased by 6.9%, or 149.3 million ringgit (US$41 million), after the February sale of 25% (for $86.3 million) of the group’s equity in online travel company, AirAsia ExpediaTravel to parent Expedia. Read More » AirAsia had foreign currency losses of 350 million ringgit for the quarter despite a fuel cost decline of 9%. The airline writes all its fuel and fleet acquisition contracts in US dollars. AirAsia’s subsidiaries contributed more than a three-fold increase, of 62 million ringgit, to the group’s bottom line. AirAsia group chief executive, Tony Fernandes said last week: “Airline operators in general are now a bit more disciplined in their capacity management, setting the stage for a better operating environment in 2015.”
