KUALA LUMPUR (May 25): AirAsia Bhd shares rose 3.10% in active trade this morning after its net profit surged 87% y-o-y to RM1.09 billion in the first quarter ended March 31, 2018 (1QFY18) from RM584.25 million a year ago, on the back of a 16% rise in passengers carried and a RM350.3 million gain from the disposal of subsidiary Ground Team Red Holdings Sdn Bhd.

At 9.36am, AirAsia rose 10 sen to RM3.33 with 4.75 million shares done.

Quarterly revenue rose 15% y-o-y to RM2.56 billion from RM2.23 billion. The airline also declared an interim dividend of 12 sen for FY18, payable on July 13.