EXOTIQ The Phuket News Centara Grand Phuket The Phuket News Outrigger Laguna Phuket Resort and Villas
The Phuket News Phuket News
The Phuket News Phuket | Thailand | World | Business | Weird World XML, RSS, Feed
The Phuket News The Phuket News
The Phuket News

AirAsia's 2011 net profit falls by almost half

Southeast Asia's largest budget carrier AirAsia on Wednesday reported a fall in net profit by almost half in 2011 on year as it struggled with high fuel prices, but posted a record revenue.

Thursday 23 February 2012, 09:07AM


The Malaysia-based airline posted a revenue of 4.47 billion ringgit ($1.48 billion) for the year, up 13 percent from 2010.

In a filing to Malaysia's stock exchange, it said net profit for the financial year, which ended on December 31, was 564.1 million ringgit, compared to 1.06 billion ringgit in 2010.

AirAsia Chief Executive Tony Fernandes said the results were positive given the challenging global environment.

He said the loss in net profit was largely due to unrealised foreign exchange losses on translation and a deferred taxation.

"Our full year results indicated that we were on the right path -- that is, we managed matters that were within our control," he said.

"This is remarkable in an environment where macroeconomic factors such as fuel prices have impacted us and every other airline," he added.

He noted average fuel prices increased 36 percent over the year, accounting for half of the airline's total cost.

Net profit for the fourth quarter slumped 56.4 percent to 135.7 million ringgit year-on-year.

Fernandes said the outlook for the 10-year-old airline was positive as the company looks forward to the listing of AirAsia Thailand and AirAsia Indonesia this year.

The airline is also expected to take delivery of 20 new A320 Classics in 2012.

Malaysia-based AirAsia has become one of the airline industry's biggest success stories after Fernandes acquired the company a decade ago, when it was failing.

Its 2010 full-year net profit nearly doubled compared to 2009.

AFP

Put The Phuket News on your website

The Phuket News
The Phuket News
Comment on this story
comments powered by Disqus
The Phuket News
The Phuket News The Phuket News The Phuket News
The Phuket News
Share this
The Phuket News
Have a news tip-off? Click here
The Phuket News
Related stories
The Phuket News
Phuket community
The Phuket News

Destination
Check-in
Check-out
Rooms :
Child
Adult(s)
PHUKET NEWS
Phuket
Thailand
World
Business
Weird World
ARCHIVE
POLL
CURRENCY
WEATHER
The Phuket News PHUKET LIFE
Phuket Arts
Phuket Community
Phuket Dining
Phuket Education
Phuket Entertainment
Phuket Environment
Phuket Health
Phuket People
Phuket Q A
Phuket Travel
Photo Galleries
COLOURING BOOK
The Phuket News PHUKET SPORT
Phuket
Thailand
World
SURF REPORT
PREDICTIONS
The Phuket News PHUKET CLASSIFIEDS
Phuket Buy and Sell
Phuket Jobs
Phuket Property
Phuket Cars and Boats
Phuket Community
Phuket Services
SEARCH CLASSIFIEDS
POST CLASSIFIED
The Phuket News PHUKET EVENTS
Phuket Event listings
Phuket Event calendar
Phuket Ticketmaster
POST EVENT
The Phuket News PHUKET DIRECTORY
Phuket Bars, pubs and clubs
Phuket Hotels and villas
Phuket Restaurants
Phuket Yellow Pages
POST LISTING
The Phuket News ABOUT US
The Company
Distribution points
Subscribe
Advertise with us
Pay for advert
Contact us
CONTESTS
Content Google Map
SITEMAP
 
Currency - The Phuket News   Weather Report - The Phuket News   Surf Report - The Phuket News
LinkedIn - The Phuket News   Twitter - The Phuket News   YouTube - The Phuket News   Facebook - The Phuket News
Copyright © 2014 Class Act Media. All rights reserved. | Website usage terms and conditions | Privacy and Confidentiality Statement.