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AirAsiaX reports US$1.2 million profit in latest quarter
August 29th 2023
AirAsia X (AAX) has announced a net profit of 5.5 million ringgit (US$1.2 million) for the three months to June 30, a return to profitability from a net loss of 652.5 million ringgit in the same months in 2022. Read More » It was the airline group's fourth consecutive quarterly profit and a result of a strong recovery in travel demand. Revenue increased 378.6%, to 512.9 million ringgit, AAX said in a regulatory filing. “We continue to focus on our consolidated growth strategy to build yield and gradually enhance the recovery of our network capacity with demand in our core markets the first priority,” AAX CEO, Benyamin Ismail, said. “As traffic from China gains momentum, the company is optimistic about the massive potential in this key market and expects flight frequency to China to expand three-fold by year-end.”
