AirAsia X reports profit

February 24, 2017 by  
Filed under Aviation, Malaysia, News

SEPANG, 24 February 2017: AirAsia X reported its financial results for the fourth quarter and full financial year that ended 31 December 2016 confirming its first full-year profit since its IPO.

The airline posted fourth quarter revenue of RM1.17 billion, up 39% from the same quarter last year. The strong revenue recorded was on the back of a 40% year-on-year growth in passengers carried to 1.38 million which was in line with the 44% available seat per km (“ASK”) capacity growth, allowing the company to record a load factor of 81%.

Average base fare was down by 4% to RM565 mainly attributed to increased frequencies to Australia and promotional fares offered on new routes. Read more

Trivago files for IPO in the US

November 18, 2016 by  
Filed under News, North America, Technology

SAN FRANCISCO, 18 November 2016: German-based hotel booking site trivago, controlled by US online travel giant Expedia, has filed for a public share offering in New York.

The firm founded in 2005 which aims to connect travellers to hotels at the lowest rate has a booking inventory 1.3 million hotels in over 190 countries, and has 55 localised websites and apps in 33 languages.

The company said in a statement that the number of shares to be offered and price range had not been determined. But the filing gave a preliminary estimate it would raise USD400 million in the initial public offering. Read more

Lotte to bounce back

October 26, 2016 by  
Filed under News, North Asia

SEOUL, 26 October 2016: The chairman of scandal-hit retail giant Lotte Group that owns the largest hotel chain in the country, vowed, Tuesday, promised a multi-billion dollar investment and job creation drive over the next five years.

Shin Dong-Bin, together with his father and brother, has been indicted on charges of tax evasion and embezzlement following a lengthy corruption probe.

The indictment came on top of a bitter, and very public feud between Shin and his older brother for control of the country’s fifth-largest family-run conglomerate. Read more