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AirAsia sees 2017 results surpassing that of 2016 despite lower profit in 1Q

Mimi Sabreena 8:22:00 PM Informasi

=KUALA LUMPUR (May 25): AirAsia Bhd, Asia's largest budget airline, saw net profit drop 29.8% to RM615.81 million or 18.4 sen a share in the first quarter ended March 31, 2017 (1QFY17) from RM877.79 million or 31.5 sen a share a year ago, mainly due to higher fuel cost as average fuel price rose 20% to US$67 per barrel in 1QFY17 from US$56 per barrel in 1QFY16 and a strong US dollar.

Staff costs also went up sharply by 27% to RM363.5 million in 1QFY17, mainly due to revised staff remuneration package that was introduced in 4QFY16.

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