Why so personal to attack someone like Tony? Looking at the results you can see that deferred taxation was a big item and as explained above it might be due to reclassification of the fixed assets. The result for this year is mainly dragged down by write offs relating to other receivables. My only view is that why they did not hedge when the fuel price was low?

Could it be margin call?

Don’t say profit is medium case because the profit 2 years ago was made up mainly of forex gain. Look at the operational profit this year and it is real profit. Without deferred tax, profit this quarter would be 130million and without provision for doubtful debt in 3rd quarter profit would be 180 millions.

Qantas is making Singapore their stopover in favor of DUBAI for the kangaroo route. Could the glory days of middle east be over in favor of Asia?

I don't understand Cimb's report as I cannot tally the results. Aax says it is their 7 consecutive quarterly profits but the analyst says otherwise.

If people promote based on facts it is up to individuals whether they agree or disagree. What sort of stupid shareholders buy a company but talk bad of it? We are trying to make educated decisions on how the QR results would be mathematically. So if you are negative about aax leave your educated comments here. You yourself have been guilty of promoting half baked companies so why the double standard?

Someone is extremely desperate here. I am waiting patiently for the QR and like everyone I hope for a good set of results. I have the benefit of flying aax long haul and find it professionally run.

Ha ha ha. Touch wood too. Been holding on to this share since 3 years ago. I really hate the pump and dump by the BB.

USD might trend lower against the RM. Jet fuel is about USD57 per barrel. So if the load factor continues to be good with higher average fares Q2 should be good barring any unforeseen incident.

Just monitor the usd to myr and the fuel prices for the long term investors.

I am more concerned about the fall of the parent company. Could it be that the sale of the leasing arm is aborted?

Usually we assume that there is a correlation between operating results and financial performance. But as mentioned above you have to gain market share in new markets which could be at the expense of a lower profit.

Don't complain about the fact that salaries have gone up. This is probably the first time that they are paying bonus after so many years of losing money. I take it as a shot of confidence and incentive for the employees.

Just to add the ringgit as at 31/12/2015 was Rm4.30 and was Rm3.88 as at 31/3/2016. So Q1 quarter the ringgit appreciated by almost 50 cents which is quite big if your costs are in usd.

Went in a bit at 45.5 to 47 cents. People are behaving as if aax is on the verge of going bankrupt. At least give some credit to management being able to turn in a profit despite adverse forex. I would rather have actual profit than having forex gains of 100 million which can change. I guess we were blindsided by the good operating results ignoring that Q1 2016 had a 122m forex gain which cannot be repeated this year.

Radzi don't bother replying to them as they are only interested in insulting people. Nobody is to be blamed on the so-called poor result as it was due to the weak ringgit which is beyond management control. If ringgit was to appreciate like in Q1 2016, we would see an improved profit.

Chanel News Asia has a better explanation on the results of AaX. Short term pain in earnings due to weak ringgit.

Even the IB know that 2017 Q1 cannot replicate the Q1 2016 results in the absence of any appreciation in the Ringgit.

I think people should not compare to last year 1st quarter as the appreciation in ringgit has a very positive impact on their bottom line. As mentioned in the previous few quarters the depreciation in ringgit has significant impact on their costs as most of their expenses are in usd. The fact that they made better profit compared to Q4 2016 is a better comparison as the ringgit did not move much between these 2 periods. If you are bullish on ringgit in the next few quarters then it should be okay for aax. The higher fuel cost can be explained by the fact that although fuel prices has remain low but our ringgit has depreciated significantly when compared to Q1 2016.

John has just become Jenny

Enjoying my holiday in Holland.

Arrived at Holland faster

Correction 0.395. Heading towards 0.39?

Wow someone dumped at 0.4

Nice. Seems to be accumulating at 0.40

Ha ha ha airasia made net profit of 465million. 2 billion for the whole year. Where got forex loss as predicted by the naysayer here.

Just have to see how forex goes. Every 20 cents improvement in Ringgit is like RM30m gain in forex. Operational wise it is profitable.

4q2015 had unrealised forex gain and other income of rm100m. 4q2016 profit is real operational profit but unfortunately incurred forex loss of 93m. Cashflow is a better indicator of performance.

The forex loss is inevitable but looking at the operating profit compared to 2015 of RM100m is very good considering that Q4 2015 had Other income of RM102m.

Unlike Q4 2015 benefited from forex gain but this quarter we will have forex losses due to weak ringgit. But a good operating figures in number of passengers carried should also be good.

I think OrangKuat calculations are quite realistic. Lets hope that the appreciating AUD has given some cushion against USD.

I don't know what he has against AAX but rehashing old news is just spamming.

Invest on fundamentals of the company. Ignore the noises from the market. If the market was so predictable we all would be millionaires.

There is a good interview by Bloomberg by the CEO and he addresses the issues of the weakening Ringgit. He sees muted impact as they derive incomes from Australia and North Asia. 2017 the aim is to mature the market and more flying time for the aircraft. Very articulated reply from Benyamin. 74 percent fuel hedge for 2017 and he thinks that fuel may weaken again.

Cashflow has also been positive this quarter with reduction in debts as well. So I hope that the 4th quarter would be much better. The fares for Australia and NZ is also higher during peak period. No new aircraft in 2017 should also be good for them to focus on organic growth.

The appreciating AUD should be good for AAX given that it is one of their main market.I hope that they continue to invest in safety and improvements in their services in the Australian market.

Aax in fact made an operating profit due to lower fuel expenses and higher average fare. This is despite having a lower load factor due to the incident in December.
I think forex losses should not be a big factor unless the ringgit drops further. I hope with better load factor this quarter can offset the forex losses.

The rate of depreciation of new aircrafts would be very high and continue to drag on the financials unless you are charging more for your seats per km. Here we have a price war strategy to gain market share. Doesn't it sound similar like MAS? 80% + load factor but bleeding like hell?

Looks like Malaysians cannot compete in terms of running an international airline business. Never liked hedging in the 1st place as it becomes a gamble.

What is happening in America is the opposite. Profits are growing over there because they are cutting capacity. Only in Asia everyone is stupid to put mega orders into buying hundreds of planes. The point is SIA used to be the most profitable airline but now it has been overtaken by the Americans in terms of profitability because of the over supply of seats available.

I smell a rotten fish here. Rumors on unpaid salary on the day of announcement of quarter results? See buyers coming in at 70 cents.

Do you think it is possible to attribute the price movement solely to large funds averaging and outsiders selling? I think poor results is more of a catalyst for the downward trend. I hope there will be no more capacity building by the big players to curb the supply growth and instead aim for better margins.

How come there is no trading this afternoon?