Friday, March 1, 2024
AirAsia X Berhad is delighted to share its financial achievements for the fourth quarter of 2023 (4Q23) and the entire year of 2023 (FY23), concluding on December 31, 2023.
In 4Q23, the company celebrated a significant increase in revenue, reaching RM818.2 million, more than doubling year-over-year (YoY) and marking the highest performance since the pandemic. This revenue indicates an 80% rebound from the same quarter in 2019, despite operating at just over half of the previous capacity. AirAsia X transported 890,289 passengers during this period, a YoY increase of over 2.6 times, mirroring a 2.8 times YoY growth in Available Seat Kilometre (ASK) Capacity to 4,770 million as the airline expanded its operations and launched new routes. The peak travel season at year-end contributed to a robust Passenger Load Factor (PLF) of 82%, a 3% increase YoY and higher than the 81% in 2019. The quarter also saw a net profit of RM27.4 million.
The average passenger fare for the quarter was RM619, a decrease from last year’s RM866, aligning with market normalization. Meanwhile, ancillary revenue per passenger rose approximately 10% YoY to RM216, thanks to successful commercial strategies. Notably, AirAsia X introduced a new route to Hong Kong and increased flight frequencies to several destinations, culminating in a total of 144 weekly flights by the end of 4Q23, double the amount from the previous year.
Despite a rise in costs, with Cost per Available Seat Kilometres (CASK) at 15.71 sen, influenced by aircraft reactivation expenses, higher jet fuel prices, and a weaker Ringgit against the US Dollar, the company maintained the lowest unit cost among its peers. The Revenue per Available Seat Kilometres (RASK) stood strong at 17.15 sen for the quarter.
For the full year, AirAsia X reported a revenue of RM2.5 billion and a net profit of RM366.5 million, driven by the resurgence of its scheduled passenger flight operations and a significant boost in ancillary income. The company carried 2.8 billion passengers, a substantial increase from 417,195 in 2022, with a steady PLF of 80%, up from 78% the previous year.
AirAsia X Thailand (TAAX) also showed impressive performance in 4Q23, with a 79% YoY increase in turnover to RM469.5 million, nearing a 93% recovery rate from 2019. TAAX achieved a net profit of RM1.3 billion, largely due to gains from its rehabilitation. The affiliate carried 387,217 passengers with an 86% PLF, supported by an expanded fleet for heightened demand. TAAX ended the quarter with 52 weekly flights, including resumed services to Sapporo.
Annually, TAAX maintained an 83% PLF, transporting over 1.3 million passengers. In 2023, it operated six routes across key markets in Japan, South Korea, Australia, and China, reporting revenue of RM1.5 billion, a 47% increase YoY, and a net profit of RM2.1 billion.
By the end of December 31, 2023, AirAsia X’s fleet comprised 18 A330s, with 16 in operation, while TAAX had eight A330s, seven of which were operational.
AirAsia X CEO, Benyamin Ismail said, “After all we have endured during the pandemic-enforced shutdown of all of our commercial operations, the Company has close to 90% of its full fleet operational, and now we expect the final two aircraft to re-join our operations by the first half of the year. This quarter alone, two additional aircraft have been activated for operations, bringing the total operational fleet to 16, which is well aligned to maximise the upside the market has to offer in our core markets in the seasonally busiest travel period. The future is looking bright with our forward aircraft orders bringing additional new specification aircraft into our fleet which will truly revolutionise our model for medium to longer-haul air travel.
“Over the past 12 months, the key performance metrics have been very encouraging, to achieve close to pre-pandemic levels, even after the wave of pent-up demand has normalised. By the end of December 2023, we have 22 destinations with 144 weekly flights, compared to 72 flights compared to the year prior. By March 2024, we will have launched our maiden flight to Kazakhstan, in Almaty, and we are excited for the opportunities that shall be unlocked with opportunities for wider reach into the region, effectively contributing to the FlyThru connectivity.
“Ancillary revenue per passenger continues to hold strong at RM216 in 4Q23 via an enhanced offering and dynamic pricing strategy, further optimised via our sales channel on airasia.com, effectively elevating the user experience, and driving a higher take-up rate.
“On fleet and network outlook, with a number of new specification longer range, more efficient aircraft on order across the AirAsia Aviation Group, including the A330neo and A321XLR, we are exploring several new and exciting medium to longer haul destinations to fly to including to Europe, Africa and the United States.”
Sunday, April 28, 2024
Sunday, April 28, 2024
Sunday, April 28, 2024
