AirAsia records lower profit in Q2

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For the second quarter ending June 30, 2011, budget carrier AirAsia has recorded lower profit of 47% lesser than the corresponding year of 2010. It recorded an RM104.26 million while in 2010’s Q2, AirAsia recorded a profit of RM198.93million. The company also recorded a lower operating profit of 3.5% due to higher costs in staffing as well as fuel. The overall revenue grew from RM933.40million last year to RM1.08billion. It also said that based on the current trend and marker response, the third quarter (Q3) for the operations of the Malaysian, Thailand and Indonesian branches remained positive after its offices in Thailand and Indonesia too recorded upward results.

For the second quarter that ended in June, AirAsia Thailand recorded an increase of 44% in revenue at THB3,760.2 million while at IDR895.2 billion, it was a 37% increase of revenue from AirAsia Indonesia. Despite the rising cost of fuel and economic uncertainty, the group said that the outlook still remain positive in the second half of the year.