AirAsia Aviation posts record quarterly earnings amid strong passenger growth

AirAsia Aviation reported its highest-ever quarterly financial results, on the back of sharp rise in revenues, and despite operational costs increasing. 

For the three months ended 31 March, the low-cost airline group, which is part of Malaysia-based Capital A, posted a positive EBITDA of MYR958 million ($203 million), up 91% year on year. The figure is also an improvement on the seasonal peak of the 2023 year-end period, the group notes. 

The group, with units in Malaysia, Thailand, Indonesia and Thailand, more than doubled its first-quarter revenue to around MYR5 billion, amid a sharp rise in passenger volumes across the network. 

The airline units carried 15.4 million passengers during the quarter, an 80% jump year on year, with traffic and capacity rising 86% and 81% respectively. At the same time, the average airfare had also rose about 26% year on year to MYR264 per passenger. AirAsia saw its operational expenses increase – with staff costs up nearly three-fold, and…