Great 2017 for AirAsia group, says Fernandes

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KUALA LUMPUR (Feb 28): Low-cost carrier AirAsia Bhd had a great 2017 with all operating units under the group making profits, said its group chief executive officer Tan Sri Tony Fernandes.

In a series of tweets this morning from his handle @tonyfernandes, he said: "For the first time all operating units including AirAsia India made profits. So Philippines, Indonesia Thailand India and Malaysia all made profit this quarter. Exceptional performance."

Fernandes also said: "Great set of results for AirAsia. Great year 2017 for @AirAsia. Tremendous amount of effort and work in getting our results to where they are today."

Yesterday, AirAsia posted a 19.9% decline in net profit to RM372.65 million in the fourth quarter ended Dec 31, 2017 (4QFY17), from RM465.32 million a year ago, dragged by income tax expense and deferred taxation.

Quarterly revenue, however, was up 37.2% to RM2.66 billion in 4QFY17 from RM1.94 billion a year ago, due to consolidation of PT Indonesia AirAsia and Philippines AirAsia Inc's accounts and a 17% year-on-year increase in the total passengers carried during the quarter.

Meanwhile, AirAsia X Bhd's net profit more than doubled to RM84.41 million in 4QFY17 from RM39.01 million a year ago, supported by a 12% growth in passenger volume to 1.55 million.