Thursday, May 23, 2013

Air Asia 1 Q 2013

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Great start for 2013: 
AirAsia fends off competition; affiliates bloom

1Q2013: Revenue up 11%; Operating Profit up 6%


1Q2013

·         Revenue                                                    : RM          1.30 billion (up 11% YoY)
·         Operating Profit                                        : RM     254.93 million             (up 6% YoY)
·         Deposits, Bank and Cash Balances          : RM         2.17  billion
·         Passengers                                               :                5.17 million            (up 7% YoY)

·         Thai AirAsia:
o    Revenue                                              : THB        6.03 billion (up 24% YoY)
o    Operating Profit                                  : THB   931.85 million (up 48% YoY)
o    Profit After Tax                                   : THB   738.96 million             (up 55% YoY)
o    Passengers                                         :               2.56 million             (up 20% YoY)

·         Indonesia AirAsia:
o    Revenue                                              : IDR 1,222.48 billion              (up 34% YoY)
o    Operating Profit                                  : IDR      41.97 billion  (up 172% YoY)
o    Profit After Tax                                   : IDR        1.36 billion (up 104% YoY)
o    Passengers                                         :              1.72 million (up 35% YoY)

LOW COST TERMINAL SEPANG, 22 May 2013 – AirAsia Berhad (“AirAsia” or the “Company”) today reported its results for the quarter ended 31 March 2013 (“1Q13”).

The Company posted strong quarterly revenue of RM1.30 billion, up 11% from revenue of RM1.17 billion reported in the same quarter last year. The growth was attributed to the increase in the number of passengers carried which grew 7% to 5.17 million, an increase in ancillary income per pax and average fare, and addition of capacity as the number of aircraft operating in Malaysia increased to 66. Demand in terms of load factor remained strong at 79% despite the 9% increase in capacity this quarter.

In 1Q13, AirAsia recorded a 6% increase in operating profit year-on-year (“y-o-y”) to RM254.93 million, resulting from the increase in revenue whilst cost remained in check with no one off volatility.

AirAsia Berhad CEO, Aireen Omar said “The Company has started off the year strongly, driven by an outstanding financial performance last year. In the first quarter of 2013, we recorded an increase of 11% in revenue attributed by the rise in the number of passengers carried. On top of that, our ancillary business is starting to gain traction with a 7% increase to RM42 per passenger from the same quarter last year.”

Aireen highlighted, “I am happy to see that our initiatives to further reduce costs are beginning to materialise with higher staff productivity leading to a reduction in staff cost. Measured by cost per available seat per kilometer (“CASK”), CASK ex-fuel was down by an impressive 5% at 6.83 sen as compared to 7.18 sen the same period last year. But due to the increase in the average fuel price, the overall CASK stood at 13.62 sen, which is flat y-o-y.”

The Company’s revenue, measured in terms of revenue per available seat per kilometer (“RASK”), remained at the same level of 16.89 sen.  This was achieved from a 2% increase in average fare in 1Q13 to RM180 from RM177 the previous year which offset the 1% decline in load factor. This demonstrates the success of our routes, service quality and strong brand creating a continuous demand of passenger growth every year. Ancillary income per pax in this quarter has grown to RM42 from RM40 y-o-y backed by strong numbers coming in from baggage and cargo.

Aireen added, “Our cash position is comfortable at RM2.17 billion in deposits, bank and cash balances and we continue to manage our net gearing level which currently stood at 1.38 times as at 31 March 2013. We have also received positive feedback from investors regarding the formalisation of a dividend policy which is to pay 20% of annual net operating profit. This is more evidence of AirAsia’s strong position in terms of balance sheet which enables the company to reward our loyal shareholders.”

“Discipline in cost is one of the many factors is that sets us apart from our competitors. The key is to remain focused on our business model by offering low fares, optimising aircraft utilisation, maintaining single fleet commonality, and achieving on-time performance by ensuring operational efficiency,” said Aireen.

Thai AirAsia (“TAA”) posted record revenue of THB6.03 billion in 1Q13, up 24% from the same period last year. Operating profit was up 48% y-o-y to THB931.85 million which led to a 19% increase in profit after tax at THB738.96 million this quarter. Thai AirAsia’s CEO, Tassapon Bijleveld said, “It is another excellent quarter for Thai AirAsia, with the 24% increase in revenue which led to a 55% increase in profit after tax and 4% rise in RASK. This was driven by the 20% increase in the number of passengers carried, thanks to the booming China routes. Despite adding another 4 aircraft to 28 as compared to 24 during the same period last year, our load factor remained impressive at 87%.” TAA’s ancillary income per pax also saw a slight increase from THB354 to THB357, with the highest contributor being baggage.

Indonesia AirAsia (“IAA”) posted another profitable quarter with revenue up by 34% to IDR1,222.48 billion from IDR911.35 billion. Operating profit saw an impressive 172% increase to IDR41.97 billion from IDR15.45 billion reported during the same period last year. IAA’s 1Q13 profit after tax was IDR1.36 billion – up 104% y-o-y. IAA’s CEO, Dharmadi added “Our strategy of building our distribution channels and building the AirAsia brand across Indonesia is starting to bear fruit, as proven in our numbers and also improved performance on key competitive routes. IAA’s ancillary business is also improving as our ancillary income per pax grew 5% from IDR138,448 to IDR145,773 y-o-y, with high contribution from baggage and assigned seat.” IAA currently has 22 aircraft.

Philippines’ AirAsia (“PAA”) recently turned a new chapter when it announced the strategic alliance with the third largest airline in the Philippines, Zest Air. Maan Hontiveros, Philippines’ AirAsia CEO said, “With this partnership in place, other than our current base in Clark, PAA would be able to operate from the main airport in Manila as well. This helps us to attract feeder traffic into Clark and leverage on Zest Air’s attractive slots from Manila. As Zest Air inventory is now available on AirAsia website, it will be part of the AirAsia Group’s network and will enhance access to North Asia.” At the end of March, PAA operates 2 aircraft and recorded a load factor of 76% in 1Q13.

Operating from a high cost environment, AirAsia Japan (“AAJ”) has harder challenges to face as compared to the other associates. AirAsia are now in discussions with our partners there to ensure that both parties agree on a turnaround plan for AAJ to assure a return on investment in the future. The newly appointed CEO of AAJ, Yoshinori Odagiri said, “Cost has proven to be our toughest challenge here in AAJ but I strongly believe this can be driven down once more scale is introduced. As a means of improving yield, we recently introduced our second hub which is Nagoya and announced a new route this quarter, Nagoya – Fukuoka.” AAJ operates 4 aircraft as at the end of March and recorded a load factor of 70% in 1Q13.

Outlook

On the outlook on the competitive landscape, Aireen said, “AirAsia constantly embrace challenges and will continue to prove ourselves as the cost leader in this industry. Our strong brand and extensive network are among our best assets.”

“This year, MAA will take delivery of 6 aircraft to mainly cater to the increase in frequencies on our existing and high load routes. We were initially looking at adding 10 aircraft this year but as a Group we decided to make room for the associates to grow, primarily TAA and the upcoming AirAsia India (“AAI”). In addition, with the recent announcement of KLIA2 being delayed, we are certain current LCCT airport capacity will be a constraint.”

With regard to Group updates, AirAsia Group CEO Tony Fernandes said, “Around 174 million passengers have flown with AirAsia since we started 11 years ago. 160 routes, 81 destinations, 18 countries, 17 hubs, 124 aircraft – all these are impressive numbers which would not have been possible without the 10,000 dedicated Allstars we have across the region. It has been a good start for 2013. There was a big structural change in 2012 with the set-up of regional functions which was necessary as the Group gets bigger. Now, everything is pretty much in place and everyone is in full-gear mode to take on the second decade head on. 2013 is the start of new era for the AirAsia Group. We have new people on board and existing Allstars wearing new hats, bringing fresh and innovative ideas to the table, which is always needed in an organisation as big as ours.”

He added, “Since Kamarudin and I are able to focus more on regional strategies now and we believe this structure is working well, everyone will be seeing a lot more development from AirAsia Group as we expand ourselves and grow stronger in each market we operate in and ensuring our affiliates blossom. MAA will continue to be the leader in terms of financial strength and they will focus on retaining their market dominance by focusing on cost discipline and driving ancillary products. It is important not to be complacent, especially with the new competitive landscape in the country. The Group’s other success story, TAA, will focus on increasing frequencies on domestic sectors which will be supported by the popular international sectors to China and Indochina. IAA’s strategy for 2013 is to grab market share on key domestic routes, while maintaining its position in the international sector. This is being done through the rationalisation of its network, redeployment of capacity to key trunk routes to build frequencies and subsequently gain a leadership position. PAA has a lot to look forward to. With the recent announcement on its strategic alliance with Zest Air, AirAsia is now able to operate from NAIA, the main airport in Manila, whilst continue to operate from Clark as well. Through NAIA, PAA now has the ability to serve on the largest capacity routes out of the Philippines and provide feeder traffic to Clark. Operating from both airports gives PAA the best of both worlds – large capacity slots in NAIA and cheap cost advantage in Clark. AAJ has a lot of cost challenges to break through and the management needs to ensure these challenges are addressed quickly. The new routes that will open from Nagoya, its second and new hub in Japan, are indeed something to look forward to which will boost its load factors especially in the coming summer season.”

Commenting on the development of the upcoming AirAsia India, Fernandes said, “I am excited about AirAsia India. The start-up process has been smooth sailing so far. We have submitted our AOC application and are currently waiting for the approval before we start operating in Chennai. Last week, we have announced the Chief Executive Officer of AirAsia India, Mittu Chandilya who will assume office effective 1stJune 2013. A native of Chennai, he has great entrepreneurial skills with vast experience from different parts of the world. Through the upcoming AAI, I am confident that Mittu will be one of the key people to revolutionise the air travel industry in India.”

As of 22 May 2013, the Group has a total fleet of 124 A320s (MAA - 67, TAA - 29, IAA - 22, PAA – 2, AAJ – 4), and is expecting 356 more aircraft to be delivered up to 2026, excluding leased aircraft.

- END -


For further information please contact:

Investor Relations:                                                                   Communications Department:  
Benyamin Ismail                                                                       Aziz Laikar
Office    : +603 8775 4499                                                           Office    : +603 8660 4263          
Email    : benyaminismail@airasia.com                                      Email    : azizlaikar@airasia.com
                      
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Organizing for Action

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Hitachi Data Systems Unveils Industry’s First Integrated File Sync and Share for the Enterprise


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HDS Brings Enterprise Security to the Mobile Workforce;
New HDS Cloud Solutions Reduce TCO by 60% and Backup Space Needed by 30%

Delhi, India. — May 22, 2013 — Hitachi Data Systems Corporation (HDS), a wholly owned subsidiary of Hitachi, Ltd. (TSE: 6501), today unveiled new solutions and services that allow enterprises to adopt cloud computing more readily, enable their mobile workforce more securely and reliably, and provide a better IT experience to their end users. The Hitachi Data Systems family of cloud services and solutions offer new options to help manage the multiple demands of IT. These demands include explosive growth of unstructured data, user expectations to access information from anywhere, and the requirement to ensure security, simplicity and protection of all data wherever it lives. With today’s new HDS offerings, customers can achieve the cost and flexibility benefits of the cloud by reducing capex and opex:

          Hitachi Content Platform Anywhere: The industry’s first integrated file sync and share solution that is built, sold and supported for the enterprise entirely by a single vendor. It bring secure mobility to the enterprise – it lets users access data and collaborate on any device, from any location at any time and easily share files. And IT keeps the data within its control, security and compliance practices, unlike consumer-grade file sharing services which have struggled to gain the confidence of enterprise IT groups. HCP Anywhere is built expressly for the enterprise and jumps ahead of industry alternatives in ease of implementation and control of important, but rarely discussed issues of encryption, key ownership and terms of service.  
          New version of Hitachi Content Platform (HCP): One seamless cloud storage platform for data protection, enterprise mobility and content cloud, it features the most advanced metadata management in the market and sets a foundation for big data and analytics.
          Hitachi Cloud Services Connection (HCSC): Public cloud offering built on HDS cloud infrastructure and solutions and managed by HDS for partners to resell.

“Though consumer file sync and share options have been available for some time, options for the enterprise are still emerging,” said Terri McClure, senior analyst, ESG. “With this new cloud package, HDS is leveraging its enterprise solution provider strengths at the core and has done a nice job providing a consumer-like experience at the edge. Its new HCP Anywhere application and platform should be particularly appealing to security-conscious end users who need to lock down access to business data and leverage additional cloud capabilities and support to satisfy end user requirements for data access across multiple devices. HDS already has a reputation of trust with this customer base and the economics for its file sync and share are very compelling. With all the back-end integration, self-service and controls HDS offers today and plans to add, HDS appears to be bringing a serious enterprise sync and share solution to market.”
“Our unique approach to cloud allows our customers to choose the best possible solutions to address their needs, at their own pace, and in a way that makes sense for their business,” said John Mansfield, executive vice president, Global Solutions Strategy and Development, Hitachi Data Systems. “Our cloud portfolio does more than just solve the challenges customers face today – it sets them up for what is coming next. Trends like big data, bring your own device, next-generation file services, secure clouds, distributed IT, and metadata-driven automation, management and analytics are quickly becoming pervasive. The products and services we are announcing today allow enterprise organizations to use cloud and file sharing in ways that were never before possible. It is with these new offerings that customers can further innovate with information as the IT industry continues to evolve.”

HDS delivers secure, flexible, scalable and easy-to-manage private, hybrid and public cloud infrastructures that enable businesses to lower total cost of ownership, meet service level agreements, and improve operational efficiency. At the heart of HDS cloud solutions are a set of proven, cloud-enabled platforms that support the unified, virtualized and distributed environments common in organizations today. Together, HDS cloud solutions based on HCP enable organizations to experience some of these benefits:

          Reduce TCO by 60%.
          Reduce space needed for backups by 30%.
          Create a 2 year deferral on new storage purchases.
          Enable 5 times more terabytes managed per administrator.

Customer and Partner Supporting Quotes
-       Garvan Institute of Medical Research, Australia: “At the Garvan Institute we focus on understanding the role of genes as well as molecular and cellular processes in health and disease. Secure collaboration on large data sets is critical for developing future cures. We’re excited to explore the productivity and innovation benefits that HCP Anywhere can bring to our researchers by extending our information infrastructure directly to mobile devices such as laptops, tablets and even smart phones to deliver pioneering research into some of the most widespread diseases affecting our society today.” – Dr Warren Kaplan, Bioinformatics specialist, Centre for Clinical Genomics
-       ACW Services, Hong Kong: “There is definitely a move in the industry toward cloud services, and by partnering with HDS we have launched a cloud service quickly with our own branding through Hitachi Cloud Services Connection. The combination of HDS facilities, infrastructure and service management with our sales, marketing, reseller and ISV recruitment quickly and easily helps our customers into production.” – Andy Lau, Managing Director, ACW Services

Web Resources
-       Read what HDS product marketing manager Jeff Lundberg has to say about the news
-       Learn more about Hitachi Data Systems cloud solutions including HCP Anywhere
-       Follow us on Twitter
-       Connect with us on LinkedIn
-       Friend us on Facebook

About Hitachi Data Systems
Hitachi Data Systems provides information technologies, services and solutions that help companies improve IT costs and agility, and innovate with information to make a difference in the world. Our customers gain compelling return on investment (ROI), unmatched return on assets (ROA), and demonstrable business impact. With approximately 6,000 employees worldwide, Hitachi Data Systems does business in more than 100 countries and regions. Our products, services and solutions are trusted by the world’s leading enterprises, including more than 70% of the Fortune 100 and more than 80% of the Fortune Global 100. Visit us at www.HDS.com.

About Hitachi, Ltd.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 326,000 employees worldwide. Fiscal 2012 (ended March 31, 2013) consolidated revenues totaled 9,041 billion yen ($96.1 billion). Hitachi is focusing more than ever on the Social Innovation Business, which includes information and telecommunication systems, power systems, industrial, transportation and urban development systems, as well as the sophisticated materials and key devices that support them. For more information on Hitachi, please visit the company’s website at http://www.hitachi.com.

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© Hitachi Data Systems Corporation 2013. All rights reserved. HITACHI is a trademark or registered trademark of Hitachi, Ltd. Innovate With Information is a trademark or registered trademark of Hitachi Data Systems Corporation. Microsoft and Active Directory are trademarks or registered trademarks of Microsoft Corporation. All other trademarks, service marks, and company names are properties of their respective owners.


Appendix: Facts about the New Solutions and Services Announced Today

HCP Anywhere: Bring Enterprise to the Mobile Workforce
HCP Anywhere is the industry’s first fully integrated, on-premises solution for safe, secure file sharing and synchronization. HCP Anywhere is enterprise- and Internet-ready. Simply put, HCP Anywhere makes it possible for employees to access any data, from anywhere, at anytime on any device. But it also gives data control back to the business by ensuring that end-to-end file sharing solutions are deployed safely, securely, and with corporate oversight.

HCP Anywhere is extremely easy to set up, deploy and manage for IT as well as users. No end user training is required and a self-service portal is provided. It works with existing IT practices and processes and no backups are needed. End users can download the HCP Anywhere client app on their iOS devices from the Apple iTunes store.

Users simply save a file to their HCP Anywhere folder and they instantly become more mobile. HCP Anywhere automatically syncs to all registered devices and becomes available via Web browsers. Users can bring their own device and have access to work files anywhere, not just in their offices. And they can safely share files with access-controlled, time-sensitive links. 

IT gets easy administration with built-in mobile device management, auditing and full integration with Microsoft® Active Directory®, so it’s easy to add and manage large numbers of users. Users can send links instead of attachments, drastically reducing email storage and network payloads. The software uses HCP to store, protect, share, sync, secure and manage data in the most efficient, easily scalable and highest-density object storage platform where the data is single-instanced, compressed and free from tape backup. Beyond sync and share, with HCP Anywhere gives IT a top quality cloud storage platform that works with modern workloads and future plans. With HCP Anywhere, organizations can:

          Safely enable mobility and bring-your-own-device (BYOD) capabilities.
          Improve information access to drive business growth.
          Increase IT efficiency to control cost.
          Reduce loss of data caused by rogue applications.
          Avoid legal and compliance issues arising from rogue data on unknown user devices.

New HCP: Highly Scalable Cloud Storage Platform
HCP is an award-winning object store and highly scalable, reliable foundation for Hitachi cloud solutions and services. It virtualizes infrastructures and intelligently automates IT operations so customers can manage rapidly growing and increasingly diverse file data. Multitenancy, built-in data protection, and robust security, along with chargeback data features, make HCP well suited to cloud service providers who offer storage as a service, enterprise IT environments who struggle with data volumes, data growth, backup and data governance or security issues, and medium-sized data-driven organizations who have rapidly growing data volumes.

The new version of HCP includes several significant enhancements:

-       Cloud application support: Customers can take advantage of the new ecosystem of cloud applications built for Amazon S3, while still securely storing their data on their own premises.
-       Metadata intelligence: Tag files with custom metadata from multiple users and applications to automate more intelligently, simplify management, aid in search, and support analytics.
-       VMware: Customers can use the server platform of their choice along with VMware to run HCP.
-       Tiering to external storage: Customers can enjoy the intelligence of HCP while leveraging other media types to store data.

Hitachi Cloud Services Connection
Hitachi Cloud Services Connection (HCSC) is a cloud services partner program with an all-in-one service offering for specific workloads and IT services. Built on proven Hitachi platforms and hosted and managed by HDS, partners can rebrand and resell cloud services immediately while allowing their brand to be associated with a well-known, global storage management player.

HCSC goes well beyond today’s cloud service by offering customers the experience, knowledge, solutions and enterprise-class features in one package, using an ITIL-certified, low latency, and local data center architecture with strong support. It also eliminates capex, offers pricing transparency and reduces the need to invest in expertise. All that customers need to do is to pay a simple monthly subscription. The service offerings include infrastructure as a service, content as a service, and software as a service.  HCSC represents one of several partnering options included in a new HDS partner framework that also includes cloud builder partners and Hitachi Cloud Service Provider Program. 

Hitachi Cloud Services Connection is available now in Asia Pacific and will be available globally later this year. Hitachi Cloud Service Provider Program is available now in the U.S. and will be available globally later this year.

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For more information:
 Press Contacts:
Hitachi Data Systems
Sushma Deshpande
sushma.deshpande@hds.com
011-6604 3919
The PRactice
Rinny Eapenrinny@the-practice.net
+91-9341620579


Regards,
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T : +91 11 46504100-03   I   M : +91 9718294118   I   www.the-practice.net

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