November 24, 2016 / 10:55 AM / 3 years ago

CORRECTED-Malaysia's AirAsia swings to Q3 profit on aircraft leasing income

(Corrects load factor and passenger numbers, paragraphs 4-5 statistics))

* Q3 net profit 354 mln rgt vs net loss 406 mln last year

* Q3 revenue 1.69 bln rgt vs 1.52 bln year ago

KUALA LUMPUR, Nov 24 (Reuters) - Malaysia’s AirAsia Bhd swung to a profit in the third quarter from a net loss a year earlier, mainly driven by an increase in aircraft operating lease income that boosted revenue during the quarter.

A 22 percent tumble in the average fuel price to $62 per barrel from $79 per barrel a year earlier also contributed, the airline said in its statement on Thursday.

Net profit for the three months ended Sept. 30 was 353.9 million ringgit ($79.62 million), versus a net loss of 405.7 million ringgit a year earlier. Revenue rose 11.2 percent to 1.69 million ringgit, the company said.

The results were underpinned by a load factor of 87 percent, a measure of how full planes are, up 6 percentage points from the same period last year.

The number of passengers carried rose 11 percent, ahead of seat capacity that increased 2 percent year-on-year, AirAsia said of its operating statistics.

$1 = 4.4450 ringgit Reporting by Liz Lee; Editing by Himani Sarkar, Mark Potter and Alexander Smith

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