KUALA LUMPUR, Feb 26 (NNN-BERNAMA) — Malaysian budget airline AirAsia Berhad has reported a pre-tax profit of 639.317 million Ringgit (one USD = about 3.4 Ringgit) for the financial year ended Dec 31, 2009, a turnaround from a pre-tax loss of 869.198 million Ringgit in 2008 caused mainly by an unwinding of aviation fuel hedging contracts.

In contrast to the aviation industry gloom, AirAsia Group chief executive officer Tony Fernandes said Thursday that revenue at the region’s biggest low-cost carrier for the year was higher by 11.5 per cent at 3.179 billion Ringgit against 2.851 billion Ringgit previously.

AirAsia said in a statement its passenger growth registered a healthy 21 per cent to 14.2 million in its Malaysian operations alone. AirAsia also has affiliates in Indonesia and Thailand as well as a budget, long-haul affiliate, AirAsia X.

The combined Malaysian, Thailand and Indonesian operations carried 24 per cent more passengers, totalling 22.7 million, the statement said.

Fernandes said: “We have successfully grown our market share in every market we served, opened up four new bases (in Penang in northern Malaysia, Bandung and Surabaya in Indonesia and Phuket in southern Thailand), launched new routes and amassed 748 million Ringgit cash in the balance sheet as a bulwark against any contingencies that may arise.” — NNN-BERNAMA

• SATELLITE IMAGES TO BE USED IN MAPPING FORESTS IN FIJI
• THAI ARMY CHIEF ORDERS HIGH ALERT AGAINST ILLEGAL ACTS ALONG BORDER
• MALAYSIA RECORDS HIGHEST TOTAL TRADE OF RM1.3 TRILLION LAST YEAR
• PARAGUAY'S VICE PRESIDENT & WIFE DOWN WITH DENGUE
• HANTAVIRUS ALERT IN CHILE AFTER THREE DEATHS & TEN INFECTED