AirAsia X is making headlines with its remarkable financial turnaround. The airline reported a net profit of RM 5.5 million ($1.16m) for the second quarter, a stark contrast to the RM -652.5 million loss ($137m) during the same time last year. Revenue also saw a significant jump, reaching RM 512.9 million ($108m), four time more than the previous year.
Thailand Subsidiary Follows Suit
AirAsia X’s Thailand branch is also showing promising numbers. The subsidiary reported total revenues of RM 351.9 million ($73.9m) for Q2, a five-fold increase compared to last year. Although unrealized foreign exchange losses led to a net loss of RM 73.6 million ($15.5), the net operating profit was a healthy RM 33.5 million ($7m). The number of passengers carried increased 28 times to 311,337, and the airline’s capacity grew 44 times to 1.805 million.
Fleet Expansion and Future Goals
AirAsia X isn’t just stopping at impressive financials; they’re also expanding their fleet. The airline activated eleven Airbus A330-300s and plans to add more in the coming months. “We will continue to work with our business partners to ensure that all aircraft can be returned to service timely to meet our network relaunch timeline,” said the airline. The goal is to have at least sixteen operational aircraft by the end of the year.
Looking ahead, AirAsia X has plans to grow its fleet back to 2019 levels by 2026. The airline aims to have fifty aircraft by 2030, including twenty XLRs, fifteen A330-900s, and fifteen A330-300s.
New Routes and Growing Demand
As part of its recovery strategy, AirAsia X has launched new services to Bangkok, Beijing, and the Australian Gold Coast. Routes from Sydney to Auckland, Melbourne, and Osaka have also seen significant demand. The airline remains optimistic about the Chinese market, where demand has been gradually recovering since travel restrictions were lifted in January.
CEO Benjamin Ismail emphasized the airline’s focus on a consolidated growth strategy. “Our revised business plan continues to highlight improvements across all key metrics. In the last twelve months, we have been prudent by reinstating services from initially two destinations and three times weekly flights. Now we have 18 destinations with 96 weekly flights, and this growth is expected to continue.”
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