Airasia Financial Review

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AIRASIA BERHAD
284669-W

annual report 2005

www.airasia.com

AIRASIA BERHAD
284669-W

annual report

2005

NOW EVERYONE CAN FLY
13 million guests and counting ...

AirAsia corporate ad

contents
2 3 4 6 8 9 10 12 16 18 22 25 Our People Financial Overview Corporate Profile Major Milestones AirAsia Group Corporate Information Board of Directors Directors’ Profile Senior Management Senior Management Profile Chairman’s Statement Group Chief Executive Officer’s Review 30 AirAsia Route Network 31 Awards & Recognition 32 33 34 39 44 45 49 64 65 113 116 117 • • What Our Guests Say The People’s Airline Statement of Corporate Governance Audit Committee Report Statement of Internal Control Additional Compliance Information Our Strategic Partners AirAsia Financial Snapshots Financial Statements Analysis of Shareholdings List of Properties Held Notice of Annual General Meeting Proxy Form More Than Just Low Fares

vision & strategy
Management Strategy Maximise Shareholders’ Value
AirAsia’s goal is to establish itself as a leading low cost carrier in Asia. The principal components of AirAsia’s strategy are as follow:

• • • •

Profit creation by expanding business reach within Asia Expand routes and network via a prudent calculated manner Invest and enhance brand – raising investors' returns Building one brand

Safety

• Never compromise safety • Ensure the security of staff and guests • Comply with every regulation; maintain highest standards • Stimulate demand by offering the lowest fares • Comprehensive distribution channel • • Develop various products and services while maintaining simplicity Providing a unique AirAsia experience – low fares do not mean low quality Continuous cost management Performance based remunerations and incentives Disclosure – higher than industry norms High accessibility to media and investment community Investing in hard and soft skills training Providing a fun and healthy working environment Recognising talents and creating opportunities for staff

Focus On Guests’ Needs

Operational Excellence

• All staff are contributors – no ranks or hierarchy
• •

Management Transparency

• Transparency in decision-making
• •

Human Capital Development

• • •

our

people – the recipe for success

Capt Kenneth Chong and Capt Maniam Nandasan retired at the age of 65 and now hold key roles at the AirAsia Academy, the training ground for AirAsia staff.

Chananporn Rosjan, Thai AirAsia pilot & Miss Thailand/Universe 2005.

Janet Chen, AirAsia’s first female pilot and the first Malaysian woman to fly a commercial aircraft.

Ezanie Yahya, AirAsia pilot and former steward, graduated from our 1st cadet pilot training program.

2

financial overview
For the year ended 31 March 2001
(RM million, unless otherwise stated)

For the 15 months ended 30 June 2002 ^ 217.4
218.7 75.3 (1.3) 0.0 (1.6) (0.1)

For the year ended 30 June 2003 330.0
318.5 94.8 11.5 0.0 11.5 7.4

2004 ^^ 392.7
332.1 116.4 60.6 (0.1) 58.1 (9.1)

2005 666.0
532.6 220.4 133.4 (5.4) 125.4 (14.3)

Revenue
Total expenses EBITDAR EBIT Associates contributions Profit before tax Tax

167.7
182.3 58.9 (14.6) 0.0 (19.1) (0.0)

Net income * BALANCE SHEET
Cash & cash equivalent Total Assets Net Debt (Total Debt – Total Cash) Shareholders' Equity

(19.1)
34.5 49.3 (32.3) (105.0) (2.7) (0.6) 24.3

(1.7)
13.8 51.4 (13.8) 2.6 (12.0) (6.6) (2.2)

18.8
33.5 124.3 (33.5) 49.0 15.2 (22.3) 25.8

49.1
66.1 350.0 29.3 150.3 28.9 (143.8) 141.0

111.6
329.3 1,122.9 (329.3) 952.9 (0.3) (334.8) 589.0

CASH FLOW STATEMENTS
Net cash from operating activities Cash flow from investing activities Cash flow from financing activities

Net Cash Flow CONSOLIDATED FINANCIAL PERFORMANCE (%)
Return on average total assets Return on average shareholders' equity R.O.C.E (EBIT/(Net Debt + Equity)) EBITDAR margin EBIT margin Net Income margin

21.0
– – 10.6 35.1 (8.7) (11.4) 290,687 363...
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