KUALA LUMPUR (AFP) -Southeast Asia's largest budget carrier AirAsia on Wednesday reported a fall in net profit by almost half in 2011 on year as it struggled with high fuel prices, but posted a record revenue.
The Malaysia-based airline posted a revenue of 4.47 billion ringgit (S$1.86 billion) for the year, up 13 per cent from 2010.
In a filing to Malaysia's stock exchange, it said net profit for the financial year, which ended on Dec 31, was 564.1 million ringgit, compared to 1.06 billion ringgit in 2010.
AirAsia chief executive officer Tony Fernandes said the results were positive given the challenging global environment.
Citation: http://www.straitstimes.com/BreakingNews/Money/Story/STIStory_769519.html
Increasing fuel prices can affect not only airline careers but also a country where electricity supply depends on thermal power generation.
