Saturday, November 30, 2024 AirAsia X reports a 23% revenue growth in Q3, driven by increased passenger traffic and strong ancillary earnings, despite rising operational costs. AirAsia X Berhad (“AirAsia X” or “the Company”) today released its unaudited financial results for the third quarter of 2024 (“3Q24”), ending 30 September 2024. The Company saw a 23% year-on-year (“YoY”) revenue increase, reaching RM795.
0 million in 3Q24, compared to RM648.4 million in the same period of 2023 (“3Q23”). This growth was driven by a 34% YoY increase in passengers carried and a strong Passenger Load Factor (“PLF”) of 84%.
Earnings Before Interest, Tax, Depreciation, and Amortisation (“EBITDA”) normalized to RM76.2 million, down from RM132.1 million in 3Q23, which included the reversal of certain provisions.
Despite traditionally weaker third-quarter performance, AirAsia X achieved a net operating profit close to RM3.0 million and reported a net profit of RM121.6 million, largely due to a favorable foreign exchange gain.
In 3Q24, AirAsia X carried 1,084,049 passengers, a 34% YoY increase, with the PLF rising by 4 percentage points to 84% compared to 3Q23. This strong demand was evident as the company expanded its seat capacity by 27% YoY, reaching over 1.28 million seats.
The fleet grew to 16 operational aircraft, up from 14 in the previous year. Ancillary revenue per passenger continued to grow, reaching RM247, up 4% YoY. This contributed to a nearly 40% YoY sur.
