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Low Cost Airline News - Asia / Pacific

Airguide Online, March 3, 2008

Mar 3, 2008

AirAsia X

AirAsia X fiscal second-quarter traffic increased 29% to 3.22 billion RPKs on a 40% jump in capacity to 4.27 billion ASKs. AirAsia said the results were achieved on the back of 21% growth in passenger volume, 17% higher average ticket prices and a 49% increase in ancillary income, which totaled MYR42 million and now comprises 6.6% of revenue. CASK rose 7% to 3.43 cents as fuel prices climbed 31%. Excluding fuel, CASK declined 3% to 1.66 cents, which the carrier attributed to introduction of more fuel efficient A320s to its fleet. Feb 28, 2008

AirAsia X

AirAsia is predicting passenger growth of 20% for 2008, with the bulk of its new capacity to be injected on international routes. It stated that "barring any unforeseen circumstances," growth and profits will continue going forward. Feb 28, 2008

AirAsia X

AirAsia posted a 73% leap in net profit to MYR245.7 million ($76.7 million) for its fiscal second quarter ended Dec. 31, from MYR142.1 million in the year-ago period, on a 43% lift in revenue to MYR632.7 million. Operating profit (EBIT) jumped 77% to MYR154.9 million from MYR86.8 million. Feb 28, 2008

AirAsia X

AirAsia launched flights from Kuala Lumpur to Yogyakarta (daily) and Vientiane (twice-daily). Feb 25, 2008

AirAsia X

AirAsia X CEO Azran Osman-Rani told media that while AirAsia is keen on the JV, "a lot of that hinges on what happens with Toll Holdings and who is going to take control of Virgin Blue." AirAsia will enter into the JV only if Toll sells down its 62.7% stake and Virgin Group chief Richard Branson, who holds 16% of AirAsia X and 25.5% of Virgin Blue, regains management control of the carrier he launched in 2000.Both Branson and AirAsia founder Tony Fernandes will be in Australia next month for talks. Toll has been considering reducing its stake for some time, with various suitors including Singapore Airlines touted. Feb 25, 2008

AirAsia X, Virgin

AirAsia, Virgin Blue explore Australian low-cost JV. The prospect of a link-up between AirAsia and Australia's Virgin Blue appears to be gathering momentum, with the world's lowest-cost operator flagging the launch of a joint venture with Blue to establish an "ultra-low-cost" carrier in Australia. Blue has been searching for ways to counter low-cost entrants Jetstar Airways and Tiger Airways as it focuses more on the corporate market. Speaking to News Ltd. in Australia, Toll Holdings, which owns 62% of Virgin Blue, said it has received expressions of interest for its majority stake. Feb 25, 2008

Virgin Blue

Virgin Blue's shares have slumped from a high of A$2.44 ($2.24) in early 2007 to close Friday at A$1.25. The airline reported an 8.8% profit drop in the fiscal semester ended Dec. 31 to A$113.3 million. Feb 25, 2008

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