AirAsia Berhad ought to be questioning the reality of the financial crisis with record breaking figures the airline almost doubled net profits during the second quarter 2010.

The Kuala Lumpar based airline is showing no weakness with net profits up 43 percent for quarter ending 30 June, reeling in net profits of RM198.9 million from RM139.2 million last year, The Malaysian Star reported.

The company has put the achievement to passenger growth, reporting an 11 percent increase from earlier in the year to 3.89 million passengers and passenger load up to 77 percent from 75 percent.

AirAsia Chief Executive Officer Datuk Seri Tony Fernandes was confident the second season would see success and expected greater results in the fourth.

“The fourth quarter is traditionally our stronger quarter. To head into our strongest season on the back of a soaring first quarter and a record breaking second quarter into our strongest season on the back of a soaring first quarter and a record breaking second quarter puts us in a fantastic position,” AirAsia Chief Executive Datuk Seri Tony Fernandes said.  

The company also broke through to higher revenue of RM940.6 million from RM747.9 million, 26 percent higher than last year.

Unlike Malaysia Airlines who posted a net loss of RM535 million due to fuel hedges, Mr Fernandes said AirAsia has implemented a cost saving plan to deal with unstable fuel prices.

“We have unearthed a gushing revenue stream that can boost the bottom line and also serve as a buffer to rising fuel prices.”

Mr Fernandes hasn’t withheld confidence over expected performance over the next six months, “we’ll easily surpass (RM1 billion) by the year end”.  

AirAsia is currently Southeast Asia’s largest airline fleet with 85 planes and seven A320’s deliveries expected in 2015.