AirAsia X Swings To Q3 Profit

Long-haul budget carrier AirAsia X swung to a profit of MYR11.02 million ringgit (USD$2.49 million) in its third quarter, from a loss of MYR288.2 million.

Revenue for the quarter to end September was MYR982.4 million, an increase of 23.9 percent on the same period last year. The increase was due to increased ticket revenue, ancillary income and aircraft operating lease income.

Pre-tax profit was MYR12 million ringgit, from 2015’s loss of MYR291 million.

During the quarter capacity in available seat km terms (ASK) was up 34 percent and revenue (in revenue passenger km - RPK) rose 39 percent. AirAsia X carried 1.22 million passengers in the three months, a 35 percent uplift from 2015. Load factor was up 3 percentage points at 78 percent.

The third quarter has “seen great capacity injected amounting to 10 percent out of the 32 percent planned for the whole year,” the airline said. “Australia routes continue to be [AirAsia X’s] highest revenue contributor at 33 percent of total revenue.”

The Kuala Lumpur-based carrier said it remained “cautiously optimistic” that it is on track for its first full year profit since 2013.