Thursday, June 24, 2010

AirAsia in better position to pay dividends

SEPANG: AIRASIA BHD [] is in a better position now to consider paying dividends to its shareholders.

"We have solved a lot of uncertainty within AirAsia. Now we have reached the stage where the board will actively look at it (to pay dividends)," said its group chief executive officer, Datuk Seri Tony Fernandes, after the company's AGM on Thursday, June 24.

While saying that it was premature to speculate on the quantum that would be considered for future dividend payment, he added that the low-cost carrier did the right thing in not declaring any dividend for the time being.

"We want to build on our cash, we want to grow the airline so that we are far bigger than any other competitors."

AirAsia's cash balance is approaching RM1 billion.

"The business should only grow, strength to strength, from now on," he said.

AirAsia chaked up a net profit of RM506.267 million for the financial year ended Dec 31, 2009.

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