Capital A Bhd.
Company Background
From its beginnings with just two jets and debt of $11 million in 2001, AirAsia has grown to become a profitable short-haul budget carrier in Asia with a fleet of close to 200 aircraft. The group operates mainly in Asia-Pacific region, including operations in Indonesia, the Philippines and Thailand. AirAsia recently launched AirAsia India in an alliance with Tata Group, plying India's domestic market. It is also seeking a re-entry into Japan in a tie-up with Rakuten Japan, after its first joint venture with All Nippon Airways broke up in 2013.
AirAsia is 23% owned by Tune Air, a private company controlled by Group CEO Tony Fernandes, a former executive of music producer Time Warner. Inspired by the success of its peer Ryanair in Europe, he runs the airline strictly adhering to the low-cost and no-frills business model, and made flying affordable to many in Asia. AirAsia's success has led to the burgeoning of budget carriers in the region, many of which are owned by full-service airline companies. The group recently introduced premium services targeting business travelers and parcel delivery services to boost its ancillary income. Its listed associate, AirAsia X, is a long-haul budget carrier, flying all over Asia.
Business Summary
Financial Highlights
| Dec 2022 | MYR | USD |
| Revenue | 6,606.25M | 1,500.96M |
| Gross Profit | -605.66M | -137.60M |
| Operating income | -1,180.85M | -268.29M |
| Income before tax | -2,674.46M | -607.64M |
| Net income | -2,480.13M | -563.49M |
| EBITDA | 306.49M | 69.63M |
| Diluted EPS | -0.61 | -0.13 |
| Dividends Per Share | -- | -- |
| Total Assets | 20,027.96M | 4,546.64M |
| Total liabilities | 29,455.45M | 6,686.82M |
| Total equity | -5,775.30M | -1,311.07M |
| Operating cash flow | 12.06M | 2.74M |
| Currency in MYR | Currency in USD |
Historical Data
| Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | |
| Revenue | 10,638.29M | 11,860.40M | 3,274.39M | 1,836.18M | 6,606.25M |
| Gross Profit | 805.14M | 1,226.23M | -2,181.81M | -2,352.50M | -605.66M |
| Operating income | 25.66M | 75.75M | -4,137.74M | -2,922.21M | -1,180.85M |
| Income before tax | 1,335.23M | -72.78M | -5,487.78M | -3,529.80M | -2,674.46M |
| Net income | 1,967.00M | -315.80M | -5,111.66M | -2,991.07M | -2,480.13M |
| EBITDA | 611.01M | 1,539.47M | -2,064.46M | -1,100.67M | 306.49M |
| Diluted EPS | 0.58 | -0.09 | -1.52 | -0.79 | -0.61 |
| Dividends Per Share | 0.24 | 0 | 0 | 0 | -- |
| Total Assets | 19,446.59M | 25,594.71M | 19,865.83M | 20,029.88M | 20,027.96M |
| Total liabilities | 13,261.32M | 22,683.97M | 23,435.62M | 26,452.78M | 29,455.45M |
| Total equity | 7,784.45M | 4,498.33M | -1,214.28M | -3,382.30M | -5,775.30M |
| Operating cash flow | 524.07M | 2,087.45M | -2,164.61M | -677.69M | 12.06M |
| Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | |
| Revenue | 2,636.25M | 2,862.77M | 779.20M | 442.96M | 1,500.96M |
| Gross Profit | 199.52M | 295.97M | -519.20M | -567.51M | -137.60M |
| Operating income | 6.35M | 18.28M | -984.65M | -704.95M | -268.29M |
| Income before tax | 330.88M | -17.56M | -1,305.92M | -851.53M | -607.64M |
| Net income | 487.44M | -76.22M | -1,216.42M | -721.56M | -563.49M |
| EBITDA | 151.41M | 371.58M | -491.27M | -265.52M | 69.63M |
| Diluted EPS | 0.14 | -0.02 | -0.36 | -0.19 | -0.13 |
| Dividends Per Share | 0.05 | 0 | 0 | 0 | -- |
| Total Assets | 4,705.76M | 6,257.11M | 4,938.67M | 4,807.94M | 4,546.64M |
| Total liabilities | 3,209.03M | 5,545.52M | 5,826.13M | 6,349.68M | 6,686.82M |
| Total equity | 1,883.71M | 1,099.70M | -301.87M | -811.88M | -1,311.07M |
| Operating cash flow | 129.87M | 503.85M | -515.11M | -163.48M | 2.74M |
Valuation Measures
| Dec 2022 | |
| PER | -- |
| ROA | -12.38% |
| ROE | -- |
| Operating margin | -17.87% |
| Profit margin | -37.54% |
Key executives
- Group CEO & Non-Independent Executive Director: Tony Fernandes
- Chief Operations Officer: Javed Malik
- Group Chief Financial Officer: Pattra Boosarawongse
- President-Airlines: Tharumalingam Kanagalingam
- Group Head-Corporate Development: Elina Effendi
Shareholders
- Research Affiliates LLC (0.2%)
- TA Investment Management Bhd. (0.1%)
- Permodalan Nasional Bhd. (0.1%)
- Samarang LLP (0.0%)
- Apex Investment Services Bhd. (0.0%)
- Storebrand Asset Management AS (0.0%)
- SSgA Funds Management, Inc. (0.0%)
- The Caisse de depot et placement du Quebec (0.0%)
- Chou Associates Management, Inc. (0.0%)
- Parametric Portfolio Associates LLC (0.0%)
Contact Details
- Website:http://www.airasia.com
- Address: RedQ, Jalan Pekeliling 5, Kuala Lumpur, 64000, Malaysia
- Phone: +60.3.8660.4333
Related Companies
- Asia Digital Engineering Sdn. Bhd.
- AirAsia (Guangzhou) Aviation Service Ltd.
- AirAsia SEA Ltd.
- Merah Aviation Asset Holding Ltd.
- AirAsia Digital
- AirAsia Bhd.
- AirAsia Megastore Sdn. Bhd.
- AirAsia Asean, Inc.
- AirAsia Go Holiday Co. Ltd.
- AirAsia Aviation Group Ltd.
- Tune Hotels Sdn. Bhd.
- AA International Ltd.
- Aras Sejagat Sdn. Bhd.
- Crunchtime Culinary Services Sdn. Bhd.
Competitors
- PT Garuda Indonesia (Persero) Tbk Class B
- Vietjet Aviation JSC
- Qantas Airways Limited
- Bangkok Airways Public Co., Ltd.
- JG Summit Holdings Inc.
- Cebu Air Inc.
- Controladora Vuela Compania de Aviacion SAB de CV Class A
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