[AIRASIA X BERHAD, better future ahead?]

It is a "affordable" and long haul airline, having market cap of about RM1.9b. Holding company AirAsia berhad has 13.76% shares, and Tune group has 14.29% shares. The latest quarterly result: net profit RM84m, FY2017 net profit RM99m (bulk of profit coming from 4th quarter). YOY, operating expenses dropped (staff costs -9.6%, depreciation -0.7%, maintenance and overhaul -83%). Last year got RM93m forex loss but this quarter got RM30m forex gain (key contribution to profit). Included in operating expenses in 4Q17 was provision for doubtful debts of RM12m. Passengers carried in last quarter increased to 1.5m (YOY 12%), and ancillary revenue per passenger increased to RM142 (YOY 4%). As for costing, cost per ASK decreased to RM0.1215 (YOY -6%). Load factor improved to 83% (YOY 2%). Thailand segment turned profitable, this quarter profit was RM30m compared to last year loss RM8m.