KUALA LUMPUR: AirAsia X flipped to a net profit in the third quarter, versus a year-ago loss, as expanded capacity on flight routes led to a higher number of passengers and buoyed revenues for the Malaysian long-haul budget airline.
The carrier, which is expected to report a profit for this year after two straight annual losses, embarked on a business and organisational restructuring in 2015. It has been adding capacity in Australia and increasing frequency on selected existing routes where demand is high to shore up its results.
For the third quarter ended September, it reported on Tuesday (22/11) a net profit of 11.03 million ringgit ($2.50 million), versus a net loss of 288.2 million ringgit a year ago. This is the fourth consecutive quarter it has secured profits.
Revenue climbed 23.9 percent to 982.4 million ringgit, driven by increases in seat capacity, ancillary revenue, aircraft operating lease income and freight and cargo revenue, the company said in a statement.
