AirAsia X Turns Profit, Doubles A330 Fleet
AirAsia X recorded its 5th quarter 2022 profit of over RM25m, equal to just over US$5.4m.
AirAsia X recorded its 5th quarter 2022 profit of over RM25m, equal to just over US$5.4m.
DALLAS — AirAsia X (D7) has reported that it is once again profitable. The company recorded its 5th quarter 2022 profit of over RM25m, equal to just over US$5.4m. The Malaysian-based airline has been struggling since the start of the COVID-19 pandemic.
The airline also reported an increase in passenger load factor (PLF). Pre-COVID, the PLF hovered around 81% but that number has starkly dropped since the start of strict travel restrictions from the Malaysian government due to the COVID-19 pandemic. However, this quarter, the company reported a PLF of 73%, and now they are within 10% of the pre-COVID load factor.
The company is also expecting a majority return to all pre-COVID routes and frequencies. Currently, the airline flies to 11 major markets, such as Seoul, Delhi, and Tokyo. In addition to these 11 destinations, there are a number of short-haul routes such as Bali-Denpasar, Kota Kinabalu, and Kuching.
As we undertake the strategy to focus on flying our most popular and historically-proven profitable routes first, we are very much pleased to report that the AAX Group is riding high on the robust demand for affordable mid-range travel across the region.
Tunku Dato' Mahmood Fawzy- Chainman of AirAsia X
The airline announced plans to increase its fleet of A330 aircraft to 13 aircraft. The increased number of aircraft is expected to enter the fleet by early to mid-2023 in order to meet increased consumer demand.
The 13 aircraft are an increase from the 12 A330s operating in mid-2021. Pre-COVID, however, this number was much higher at 24 aircraft. AAX also had an order for 78 brand-new A330-900 aircraft, but that order was sharply cut down to just 15 aircraft. Even then, the order was further delayed due to the COVID-19 pandemic.
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