AirAsia revenue jumps 40% under cargo services

Upgrowing Malaysian airline AirAsia X Berhad achieved a revenue of 749.5 million ringgits ($233 million) for the quarter ending 31 March, while carrier cargo services geenrated 25.3 million ringgits throughout.

The cargo revenue is a 27 per cent year-on-year increase from the 19.9 million ringgits it generated in the same quarter last year. The quarter's overall revenue was a leap of 40 per cent, compared to the first three months of 2013.
Also, AirAsia X has 19 Airbus A330-300, up from 15 in December last year. The carrier has ordered 51 Airbus A330-300, with six more being leased from the International Lease Finance Corporation; bringing its fleet deliveries to 57 by 2019. The airline also has 10 Airbus A350 eXtraWideBody on order. Osman-Rani adds: "As new capacity typically takes 12-months to reach break-even, we expect to see yield improvement and an earnings turnaround in the second-half of this year." AirAsia X received one A330-300 on finance lease and two on operating lease in the first quarter.  With thirteen aircraft under operating lease as of 31 March, operating lease expenditure escalated 58.6 per cent year-on-year to 59.9 million ringgits, from 37.8 million during the same period. Due to a one-off investment in its sister airline, Indonesia AirAsia X and one aircraft delivery earlier this year under finance lease, net cash flow reduced to 136.8 million ringgits.

Source :  http://www.aircargoweek.com/news/AirAsia-X-Berhad-sees-40-revenue-jump_5243.html