Capital A Berhad, along with its subsidiary AirAsia Berhad, has released detailed operational data for the various divisions under its umbrella during the First Quarter of Financial Year 2024. This comprehensive data offers valuable insights into the performance of its aviation, digital, logistics, and aviation services segments, demonstrating the company’s commitment to accountability and transparency. It enables stakeholders to thoroughly assess the company’s progress and make well-informed decisions moving forward. Analyzing the operational data of these key divisions empowers investors, analysts, and industry observers to understand Capital A Berhad’s strengths and identify areas for further improvement. Additionally, it aids in comprehending market trends, competition dynamics, and potential growth opportunities. By consistently disclosing such information, Capital A Berhad fosters transparency, builds trust with stakeholders, and promotes a culture of data-driven decision-making within the organization.
AIRASIA AVIATION GROUP
The AirAsia Aviation Group, comprising AirAsia Malaysia, AirAsia Thailand, AirAsia Indonesia, and AirAsia Philippines collectively known as the Group, exhibited impressive performance in key metrics during the quarter. It achieved a record-breaking system-wide quarterly load factor of 90%, marking a 1 percentage point increase Year-on-Year (YoY). This solid performance mirrors AirAsia’s strategic focus on expanding capacity and reconstructing its network. Passenger volume witnessed a significant 17% YoY surge to 15.4 million, surpassing the 15% YoY growth in capacity. This underscores sustained robust travel demand across the region, particularly during the school holidays and Chinese New Year festivities in the first quarter. Notably, the load factor on China and India routes reached an impressive 94%, exceeding pre-Covid levels due to the establishment of visa-free travel corridors in late 2023. The airline group operated 167 aircraft as of March. Passenger recovery reached a significant 84% of pre-Covid levels YoY, with both domestic and international segments showing similar growth, while capacity recovery reached 82% YoY. AirAsia Philippines and Thailand stood out with load factors of 93% each, closely followed by AirAsia Malaysia and Indonesia at 89% and 83%, respectively. To capitalize on this surge in demand, the airline Group is prioritizing capacity and network expansion to meet escalating demand.
MOVE DIGITAL
AirAsia MOVE, formerly known as airasia Superapp, maintained a strong user base surpassing 15 million Monthly Active Users (MAU) in 1Q2024, reflecting a 19% YoY growth in MAU. Travel: A strategic shift towards Business to Consumer (B2C) resulted in higher commission and conversion rates. The focus remains on user engagement, app stickiness, and improved conversion rates, positioning it as a top-of-mind OTA platform. Within the travel segment, there was an 11% YoY increase in daily bookings for flights from other airlines, a 44% quarter-on-quarter (QoQ) surge in hotel bookings, and increased redemption of AirAsia flights in the Rewards segment. Ride-hailing: Improved completion rates for airport trips by 6% YoY but faced a 24% lower GBV due to driver shortages during Ramadhan. AirAsia Rewards and other businesses: 24% YoY GBV growth, driven by increased point redemptions for AirAsia flights during the festive season. BigPay: Quarterly carded users grew by 12% YoY to 1.5 million. Payment: Reduced by 23% YoY to focus on profitability. Remittance: Grew by 19% YoY, mainly domestic transfers due to strong adoption of DuitNow. Lending: Value of loan disbursements grew 261% YoY. Marketplace: Maintained stable growth in mobile prepaid top-up transactions.
LOGISTICS
Teleport performed exceptionally well in its Cargo and Solutions segments, leveraging freighter rotations and partner airlines’ networks to efficiently serve cargo and eCommerce customers. Cargo segment: Delivered 63,945 tonnes, a 79% YoY increase, with a 5% YoY rise in utilization rate despite a 25% capacity increase. Solutions segment: Delivered over 15.6 million parcels, a 175% improvement YoY, with daily deliveries averaging 172,000.
AVIATION SERVICES
Asia Digital Engineering (ADE): Enjoyed strong growth in MRO services, completing 82% more base maintenance checks YoY. Santan: Recorded 5.1 million units sold, up 13% YoY. Ground Team Red (GTR): Showed growth in flight handling, passenger handling, and cargo handling, supported by AirAsia’s flight expansion and Teleport freighter additions.
