AirAsia X said it recorded a solid head start in 2024, demonstrating a robust growth trajectory in its financial results for the first quarter of 2024 ended 31 March. The company reported revenue of RM908.9 million in 1Q24, increasing by 66% year-on-year (“YoY”), attributed to a 90% YoY surge in the number of passengers carried to 959,623, while capacity stood at 1,155,788 seats.
Driven by the strong demand arising from key festive seasons and school holidays, the Company posted a solid Passenger Load Factor (“PLF”) of 83%, up three percentage points YoY, with best-performing routes in China, India and Japan recording over 90% PLF, while the Company’s Available Seat Kilometres (“ASK”) increased by 74% YoY in line with solid market demand. In 1Q24, the Company posted RM80.1 million net profit, with over 8% margin against its revenue.
In terms of costs, the Cost per Available Seat Kilometre (“CASK”) in 1Q24 is the leanest of comparable airlines in the industry at…
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