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June 14, 2008

AirAsia reports 73% jump in quarterly profit

Malaysian low-cost carrier, AirAsia, said Wednesday its net profit in the October-December surged 73 percent from a year ago as robust passenger demand helped offset the impact of high fuel prices.

Profit for the quarter reached 245.7 million ringgit ($76.8 million) on the back of a 43 percent rise in revenue to 632.8 million ringgit ($198 million), it said in a statement.

Passenger traffic rose 21 percent to 2.7 million during the quarter, said AirAsia, which is Southeast Asia's biggest budget carrier in terms of fleet.

This brought profit for the six months through December to 425.7 million ringgit ($133 million), doubled from the same period a year earlier, it said.

From 2008, AirAsia said its accounting period will run from January to December. Previously, its fiscal year started in July.

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