The only positive signs of this QR is cash on hand increased from 192m to 268m , and shareholder equity from 40m to 90m.. the rest .. hope Q3 average fares hike will help ..
The traditional slower QR for airlines. The sharp dropped in profit due to Forex exchange loss of 32m. Or else they would be making better profit. So would USD continue to grow stronger? If yes, then profit margin would be squeezed. Still a good QR as NTA continue to raise to 0.22.
The Company posted a net profit of RM5.5 million for the quarter, a turnaround from net loss of RM652.5 million compared to the same period last year. In 2Q23, the Company registered revenue of RM512.9 million, over four times higher year-on-year ("YoY"), driven by the recovery of the Company's scheduled flights operations as more aircraft were brought back to service; as of 30 June 2023, the Company had 11 aircraft activated, compared to five aircraft during the same corresponding period last year. Overall, the turnover this quarter evidently marks a notable recovery rate of over 50% compared to the Company's performance in 2019, which is notable as the number of aircraft it operates remains less than half of the operational fleet number in 2019.
Compared to the same period last year, the increase in earnings is attributable primarily to the surge in seat capacity, which grew by over 26 times YoY to 818,422 seats flown as more aircraft were operational and the airline's network was optimised . During the quarter under review, the Company carried a total of 621,984 passengers, delivering a surge of 70 times YoY, consequently posting a healthy Passenger Load Factor ("PLF") of 76%, which is 47 percentage points higher that the 29% PLF reported for the corresponding quarter ended 30 June 2022. As seat capacity grew along with the recovery of the Company's network, Available Seat Kilometres ("ASK") was recorded 25 times higher YoY, standing at 3,509 million, with a recovery rate of 42% against the corresponding period in 2019.
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 7316 views | 6 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Canlah
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Posted by Canlah > 2023-08-28 15:23 | Report Abuse
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