AirAsia Group's cash and cash equivalents reached 1.76 billion ringgit ($576.8 million) at the end of the first quarter 2011.
The Malaysian Group generated 288.70 million ringgitt net cash flow during the three-month period, up from 189.84 million ringgit for the first quarter of last year. During January-March 2011, AirAsia generated 545.18 million ringgit cash flow from operating activities and another 44.95 million ringgit cash flow for financing activities, but used 210.43 million ringgit cash flow for investing activities.
During the quarter, it issued 2,080,000 ordinary shares of 0.10 ringgit each pursuant to the exercise of ESOS at the option price of 1.08 ringgit. As a result total issued and paid-up share capital to 277.55 million ringgit from 277.34 million ringgit.
Group's total debt as of end of 31 March 2011 was 7.77 billion ringgit compared with 7.18 billion ringgit at the end of last year's first quarter. Group's net debt after offsetting the cash balances amounted to 5.97 billion ringgit.
AirAsia posted a 171.9 million ringgit net profit for the first quarter of 2011 down from 224.1 million ringgit reported in last year's corresponding period.
The Group will not take delivery any A320 aircraft in the second quarter of the year. Three deliveries are planned in the third quarter and four in the final quarter of the year. Three will be deployed in AirAsia, two in AirAsia Thailand and two in the Philippines.