AIRASIA BHD posted net profit of RM224.11 million for the first quarter ended March 31, 2010, up 10% from RM203.15 million a year ago, also boosted by foreign exchange translation gain as the ringgit strengthened against the US dollar.
The low-cost carrier said on Monday, May 31 that revenue rose to RM878.04 million from RM797.13 million while earnings per share were 9.1 sen versus 8.6 sen.
"The revenue growth was supported by 17% growth in passenger volumes and average fare that was 13% lower at RM173 as compared to RM198 achieved in 1Q09. Seat load factor was 4 percentage points higher at 74% compared to 70% in the same period last year," it said.
AirAsia said the group’s core operating profit for the period was RM111 million. This is a 33% decline from the core operating profit achieved in 1Q09. The core operating profit margin for the period was at 12.7%, this is lower than the 20.8% core operating profit margin achieved in 1Q09.
"The Malaysian Ringgit has strengthened against the US Dollar and this has resulted in a translation gain of RM166 million during the quarter," it said.
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