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declared a special dividend of 40 sen per share as its net profit jumped 81.2% in the third quarter ended September 30, 2018. The dividend will be distributed on December 12.
Announced at Bursa Malaysia on Thursday its net profit increased from RM55.32mil a year ago to RM1515.87Mil mainly due to a one-time gain on the sale of Expedia and the reversal of deferred tax liabilities resulting from the sale of aircraft.
For the third quarter, AirAsia's revenue increased by 6.5 percent from 2.44 billion to 2.61 million RMB. Earnings per share was 27.40 sen, against 15.10 sen.
"Growth was attributed to a 9% increase in the total number of passengers carried. Overall passenger revenue per unit increased 1% due to average rate increases.
"The load factor was 82% in 3Q18, compared to 87% in 3Q17 because the increase in the number of passengers carried was less than the 16% increase in capacity," the account says.
AirAsia said its operating profit for 3Q18 was 253 million RMB against 494 million a year ago "mainly due to higher fuel costs."
She added that, not counting fuel expenses, the costs were fairly well controlled, showing a 2% reduction in CASK off fuel.
Cash flow from the group's operations was RUB 1,634 billion compared to R 1.178 billion in the last quarter ended June 30, 2018.
"Net cash inflows for the quarter amounted to RMB 2,566 billion, mainly due to the proceeds from the sale of aircraft, net of loan repayments," the statement said.
The total debt of the AirAsia Group, including liabilities directly related to assets held for sale, was RMB 4.3 billion at the end of September 2018.
He recorded a deferred tax asset of 515.4 million RM for the current fiscal year. Deferred tax assets increased when the difference between the net book value and the depreciated tax value of property, plant and equipment decreased
period following the completion of the sale and leaseback transactions on the aircraft.
AirAsia said Thai AirAsia's net operating loss was 826.7 million won in the third quarter of last year, compared with an operating profit of 391.5 million THB a year ago .
The net loss for the third quarter of fiscal 2008 was 655.7 million THB compared to a net profit of 472.1 million THB a year ago.
"AirAsia Group Bhd has recorded its share of the net loss of RMB 36.9 million (profit of RMB 28.1 million for the quarter ended September 30, 2017) during the reporting period, as indicated the income statement".
49% owned AirAsia India recorded an operating loss of 2,915 million rupees against 168 million rupees a year ago, mainly due to higher fuel costs.
"Excluding fuel costs, the costs were fairly well controlled, with ex-fuel CASK reduced from INR 176 to INR 176.91," the report says.
AirAsia India recorded a net loss of INR 3,082.1 million in the third quarter of fiscal 2008 (a net loss of $ 163.9 million in the third quarter of 2017).
As the carrying amount of the Group's interest in AirAsia India has been reduced to zero, no other losses have been accounted for by the equity method in the income statement of the AirAsia Group Bhd Group.
"In accordance with MFRS128, any profit will be recognized only if a total of 78.6 million RMB of unrecognized losses has been canceled," he said.
AirAsia Japan recorded a net loss of 35.3 million RMB in the third quarter of fiscal 2008 (net loss in the third quarter of fiscal 2017, 41.4 million RMB), of which 22.4 RMB millions (third quarter of fiscal year 2017: RM 20.5 million) are accounted for using the equity method in the group financial statements
For the nine months, its net profit jumped 90.9%, from RM 1.26 billion to 2.419 billion. Its revenues increased from RM7,095bil to RM7.78bil.
In March, AirAsia announced the sale of its leasing unit, Asia Aviation Capital Ltd. (AAC) to BBAM Ltd Partnership, for $ 1.18 billion (RMB 4.619 billion). from 60 sen to 70 sen a share.
The sale to BBAM, the third largest aircraft company in the world, will allow AirAsia to reap a product of 3.8 billion RMB. The deal involves the sale of 182 current and future engines equipped with engines.
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