AirAsia X has reported a significant increase in revenue for the second quarter of 2024, ending June 30. The airline recorded a turnover of RM669.1 million, marking a 30% year-on-year increase. This growth reflects the sustained demand in core markets as the company ramped up its operational capacity to 16 aircraft. Despite the second quarter traditionally being the weakest, AirAsia X posted Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) of RM58.4 million, with a net profit of RM4.8 million.
.gif)
The number of passengers carried rose by 42% year-on-year to over 880,000, surpassing the 30% year-on-year growth in seat capacity. The spring travel seasons in key markets and the Eid holiday period contributed to a healthy Passenger Load Factor (PLF) of 83%, an increase of seven percentage points year-on-year. Load factors on high-demand routes in China, India, and Japan trended close to 90%. AirAsia X’s average base fare was RM458 in the second quarter of 2024, down from RM650 in the previous quarter, reflecting the softer travel season. Ancillary revenue increased by over 48% year-on-year to RM218.2 million, driven by the increase in the number of passengers carried and a 5% year-on-year increase in ancillary revenue per passenger to RM248. This growth was supported by continuous improvements and fine-tuning of various products and services, enhanced customer personalization strategies, and improved booking flows. The company also evolved its food and beverage offerings served inflight by SANTAN to meet the latest trends.
On the network front, AirAsia X reinforced its commitment to regaining market leadership in core markets. The airline resumed operations to Xi’an in April, fortifying its presence in this core market to five destinations, including Beijing, Chengdu, Hangzhou, and Shanghai. Additionally, the company increased flight frequencies between Kuala Lumpur and Bali to 14 times per week to cater to the strong demand for the popular leisure destination. Over the last 12 months, AirAsia X suspended services to Busan, Auckland, and the Gold Coast as part of its network optimization exercise to ensure it is always flying the most popular and profitable routes.
The company delivered 31% more flights in the second quarter of 2024, with a total of 2,916 stages and an average of 128 flights per week. AirAsia X Thailand (TAAX) also reported a strong performance, with revenue of RM378.9 million, up by over 7% year-on-year, and a net profit of over RM11 million. This was attributed to a 16% year-on-year increase in the number of passengers carried to 362,596, with a PLF of 84%, up by six percentage points year-on-year.