News
Capital A books US$241 million profit for latest quarter
August 30th 2023
Capital A, parent of the AirAsia group of airlines, has reported a net profit of 1.1 billion ringgit (US$241 million) for the three months to June 30 compared with a net loss of 931.2 million ringgit in the same months in 2022. Read More » Revenue rose 115%, to 3.2 billion ringgit, Capital A said in a regulatory filing. “With strenuous efforts, Capital A has arrived as a low-cost, high-value, inclusive aviation and travel group delivering value to our non-aviation companies with all of them being EBITDA positive, and with Bigpay on its way,” Capital A CEO, Tony Fernandes said. AirAsia Aviation Group CEO, Bo Lingam, added the LCC group’s operating bases in Indonesia, Malaysia, the Philippines and Thailand have returned 175 aircraft to active service, plan to fly 180 airliners from September and operate a fleet beyond 200 at year-end. “We maintain a confident outlook about aviation as we now have line of sight on the full reactivation of our fleet,” Lingam said. “We are buoyed by the upward trajectory of ancillary revenue per passenger, which is projected to increase to US$358 million in the second half of the year. It is up 27% over the same period pre-COVID and is driven by strong new product initiatives and dynamic pricing.”
