AirAsia earnings in Q4 plummet 56pc

KUALA LUMPUR: Budget carrier, AirAsia Bhd said its fourth quarter earnings fell 56.4 per cent due to higher aircraft fuel expenses.

Net profit for three months ended December 31 2011 was RM135.7 million, down from RM311.1 million a year earlier.

Revenue for the same period improved by 9.3 per cent to RM1.27 billion compared with RM1.16 billion, supported by growth in passenger volume and higher fares.

AirAsia said the outlook for the first quarter of 2012 should be seen in the context of the current higher prices of oil and aviation fuel.

"However, barring any unforeseen circumstances, the directors remain positive for the prospects of the group for the first quarter and remainder of 2012," it told Bursa Malaysia.

For the 12-month period of 2012, net profit was 46.8 per cent lower at RM564.1 million compared with RM1.06 billion.

Revenue for the same period managed to rise 13.3 per cent to RM4.47 billion from RM3.95 billion a year before.

AirAsia said based on the current forward booking trend, underlying passenger demand in the first quarter for the Malaysian, Thai and Indonesian operations remains positive.

"Load factors achieved in the month of January were higher than the prior year in Malaysia and slightly lower in Thailand and Indonesia, with average fares higher in all three countries," it said.

The group will take delivery of three A320 aircraft in the first quarter of this year, which will be in service in Malaysia, Thailand and the Philippines.