PETALING JAYA: AirAsia X Bhd
will continue to focus on its fleet activation, including the 11 aircraft it operates currently.
The low-cost carrier said that by the end of this year, it expects to have 16 operational aircraft to support its network requirements while maximising value.
It said it has been on a steady and persistent course of relaunching all of its profitable routes and will now focus on China as the country reopens.
It will also look to increase flight frequencies on routes with high demands.
“While strengthening the airline’s position within the markets that it currently operates in, the group also has plans to launch fresh new routes to expand its reach to other regions,” AirAsia X said in a filing with Bursa Malaysia.
The company added that overall, its recovery strategies are on track and will remain in motion.
“In the coming quarters, we expect to sustain the upward trajectory to ensure the viability of our earnings,” it noted.
AirAsia X posted a revenue of RM512.9mil for the second quarter ended June 30, 2023 (2Q23), despite a 7% dip as the quarter under review is traditionally a low-sales season.
This was backed by a 21% increase in available seat kilometres capacity with a load factor of 76%.
“Operating costs continue to be impacted by the weakening of the local currency against the US dollar but are bolstered by favourable fuel price movements during the quarter,” it said.
The carrier registered a net profit of RM5.54mil in 2Q23 against a net loss of RM652.5mil for the same quarter a year ago.
For the first half of its current financial year, AirAsia X registered a revenue of RM1.06bil, quadruple the RM220mil recorded in the same period last year.
The revenue was mainly generated from charter flights and cargo, as most of the fleet remained on the ground and the group only commenced minimal scheduled flights operations in the quarter ended June 30, 2022.
“While this reporting period has always seen relatively lower sales due to seasonality, the surge in international travel since the reopening of borders have contributed positively to revenue, translating to a 49% recovery against the same period in 2019,” it noted.
Furthermore, staff and maintenance costs have continued to increase in tandem with the gradual reactivation of one aircraft to 11 operating aircraft.
“Consequently, the number of corresponding flying and ground crews has increased by 172% and 209%, respectively.
“The maintenance costs, on the other hand, increased on the back of higher utilisation and weakening of the local currency against the US dollar,” it said.
Net profit in the first half stood at RM333.54mil.
