(MENAFN) Malaysia-based AirAsia, the region's biggest low-cost carrier by fleet size, said its first-quarter net profit climbed 7 percent on-year mainly due to lower fuel and operating costs, Arab News reported.
The carrier's net profit for the quarter ending March 31 stood at USD40.8 million, the company said in a statement, however, revenue dipped 0.4 percent to USD354.41 million during the period.
During the same period last year, AirAsia recorded a net profit of USD38.08 million, while it posted its first net loss (since 2008) of USD117.06 million in the previous fourth quarter.
The budget carrier said total passengers carried during the period rose 3.0 percent to 5.5 million people on-year, while average fuel price was 20 percent lower at USD88 per barrel.
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