AirAsia X Berhad experienced a robust start to 2024, showcasing significant growth in its financial performance for the First Quarter of 2024 (1Q24) ending on 31 March 2024. The Company achieved a revenue of RM908.9 million in 1Q24, marking a 66% year-on-year (YoY) increase, driven by a 90% YoY rise in passengers carried, totaling 959,623, while maintaining a capacity of 1,155,788 seats. This growth was fueled by high demand during key festive periods and school holidays, resulting in a robust Passenger Load Factor (PLF) of 83%, up three percentage points YoY. Notably, routes in China, India, and Japan performed exceptionally well with PLFs exceeding 90%. During 1Q24, AirAsia X achieved a net profit of RM80.1 million, with a margin of over 8% against its revenue. Its Cost per Available Seat Kilometre (CASK) was notably lean at 13.93 sen/US¢2.95, the lowest among comparable airlines in the industry, marking an 11% reduction from the previous quarter’s CASK of 15.71 sen/US¢3.35. This reduction was attributed to lower operating expenses due to decreased jet fuel prices and the increased ASK capacity. Revenue per Available Seat Kilometre (RASK) stood at 18 sen, reflecting an average fare of RM650 and a 5% improvement from the preceding quarter. In 1Q24, ancillary revenue per passenger grew by 3% YoY to RM251, driven by tailored product offerings and enhancements in personalization, platform efficiency, and booking flow.
