MOVE Digital, the digital arm of Malaysia-based Capital A, saw its revenue fell 18 percent year on year to MYR 130.2 million ($27.68 million) in the first quarter ended March 31, 2024.
Capital A said in a statement on Wednesday that the drop was mainly attributed to decline in sale of AirAsia flights due to heightened price competition in the online travel agency (OTA) landscape, and the cessation of commissions from sales through third-party agents, as the airline has shifted to handling this transactions directly.
However, this was mitigated by a slight increase in sales in other segments.
It is noted that AirAsia MOVE, its integrated travel and financial platform, was the primary revenue driver, contributing 92 percent of the total revenue.
AirAsia MOVE reported an (earnings before interest, taxes, depreciation, and amortization) EBITDA loss of MYR 7.7 million ($1.64 million) in the first quarter.
Moving forward, AirAsia MOVE will concentrate on enhancing…
#AirAsia
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