The region's biggest low-cost carrier posted net profits of 9.4 million ringgit (S$3.9 million) for the three months to June, compared with 185.1 million ringgit a year earlier.

'This is a commendable performance given that unit fuel price increased by 65 percent to 142.5 dollars per barrel,' said chief executive Tony Fernandes, adding that the weakening ringgit led to a loss of 77 million ringgit.

He said revenues increased 41 percent in the quarter to 608 million ringgit, with a 20 per cent increase in passenger load and a 16 per cent rise in fares.