AirAsia X posts quarterly profit on rise in passenger traffic

[KUALA LUMPUR] Malaysian long-haul budget airline AirAsia X posted a profit for the second quarter, buoyed by higher passenger traffic and lower fuel costs.

Net profit for April-June was RM1.0 million, compared with a loss of RM132.9 million in the same period last year, AirAsia X said in a statement on Tuesday.

Revenue rose 35 per cent to RM883.2 million.

Passenger traffic for the quarter rose 27 per cent year-on-year, while load factor increased 7 percentage points to 75 per cent.

The airline said the passenger numbers for the third quarter were encouraging, based on the current forward booking trend.

Forward loads and average fares are also better than in the corresponding period of the previous year, it added.

REUTERS