AirAsia X has recorded a solid start to 2024, as reported in its financial results for the first quarter of 2024 (“1Q24”) which ended on March 31, 2024. Despite its network growth being restricted by a lack of available Airbus A330 aircraft, the budget carrier is positive about its future as it eagerly awaits the arrival of the first of the 20 A321XLRs it has on order.
The carrier reported revenues of RM908.9 million ($191m) in 1Q24, an increase of 66% year-on-year. This was attributed to a 90% surge in the number of passengers carried over the same period in 2023, to 959,623.
Driven by the strong demand arising from key holiday seasons in its markets plus school holidays, the company posted profits of RM80.1 million ($17m) net profit, representing a margin of over 8% against its revenue.
A solid passenger load factor of 83% was up three percentage points over 1Q23, with its best-performing routes in China, India, and Japan recording over 90%. Capacity…
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