KUALA LUMPUR: A one-off deferred tax charge of 647.2 billion rupiah (RM212 million) has dragged AirAsia Bhd’s net profit down 72.98 per cent to RM92.45 million for the second quarter ended June 2017, from RM342.12 million, a year ago.
Revenue for the low cost carrier stood at RM2.38 billion for the quarter, 46.9 per cent higher than previous year’s RM1.62 billion.
The growth was attributed to a 10 per cent increase in total passengers carried and a strong seat load factor of 89 per cent compared to 87 per cent last year.
In its filing to Bursa Malaysia today, AirAsia said the airline is projected to achieve an average load factor of 88 per cent in the third quarter of this year based on the existing forward booking trend.
In order to better serve the growing demand in the region, the group said it is also planning to increase an additional 22 planes through a combination of finance and operating leases in the second half of this year.
This will be one of the fastest pace of expansion in the last few years, made possible due to the favorable competitive and operating environment of aviation in Asia, it added.
“For the remaining quarters of 2017, we remain optimistic as we continue to observe strong demand across most sectors coupled with a stable fuel price and foreign exchange environment,” it said.
“We also remain positive that the 2017 results may be better than 2016 barring any unforeseen circumstances,” it added.
Thai AirAsia recorded revenue of 8.35 billion baht in the quarter, seven per cent higher compared to the 7.77 billion baht achieved last year.
AirAsia India recorded revenue of 3.48 billion rupees in the quarter, 84 per cent higher compared to a revenue of 1.9 billion rupees last year.
In Thailand, AirAsia said load factor in the third quarter of 2017 is forecast to be 85 per cent based on existing forward booking trend while in India, the forecast load factor for the third quarter of 2017 is at 86 per cent.