PETALING JAYA: AirAsia X Bhd
(AAX) is remaining prudent in its monitoring of foreign exchange and jet fuel price trends.
In a filing with Bursa Malaysia, the low-cost airline said its forward sales trajectory remained promising, particularly buoyed by trends on ancillary take-up.
“Barring any unforeseen circumstances, the group is optimistic that it will maintain this momentum as we move into one of our strongest quarters between October and December.”
The company posted a net profit of RM50.2mil, in the first quarter ended March 31, 2025 (1Q25), down from RM80.12mil in the previous corresponding period.
AAX said net profit in 1Q25 represented a 5% margin even as its cost base expanded parallel to operational growth.
Cost per ASK edged up marginally to 13.97 sen driven by slightly higher staffing with additional aircraft in operation and airport-related expenses.
“These were partially mitigated by a lower jet fuel price year-on-year and a reduction in aircraft lease expenses as most aircraft exited pay-by-hour arrangements since 1Q24,” it said.
AAX reported a revenue of RM940.1mil in 1Q25, increasing by 3% year-on-year from RM908.9mil in 1Q24, driven by a 12% growth in capacity to 1.29 million seats.
“In line with capacity expansion, AAX achieved a 12% year-on-year increase in passenger traffic in 1Q25, carrying 1.08 million passengers.
“This was driven by sustained demand across core markets and efficient capacity deployment, resulting in a robust passenger load factor of (PLF) 83%.”
During the quarter under review, AAX said it expanded its available seat kilometres by 17% year-on-year to 5.88 billion, strategically aligning capacity to capture peak demand during festive and holiday periods.
“Japan and Australia emerged as key outperformers within the network, with core routes delivering strong load factors of between 85% and 90%, reflecting sustained travel demand and effective capacity optimisation in high-yield markets.”
Meanwhile, AirAsia X Thailand (TAAX), the company’s associate, recorded RM512.7mil in revenue and an operating profit of RM15.5mil in 1Q25.
“TAAX carried a total of 500,128 passengers this quarter, up 14% year-on-year as seat capacity increased by 23% year-on-year to 604,584 seats.
“The one-off effect of the hub transition from Suvarnabhumi to Don Mueang in October 2024 has stabilised, with the network now operating at peak performance. TAAX’s average fare held strong at RM833 per passenger this quarter,” it said.
