News
AirAsia Aviation Group delivers “strong” third quarter net profit
November 29th 2024
AirAsia Aviation Group and several susidiaries operating under the Capital A umbrella have booked a net profit of RM2.01 billion (US$452 million) for the quarter after realizing significant foreign exchange gains of more than RM2 billion. Read More » AirAsia Aviation Group recorded a RM9.9 million net operating profit from revenue of RM4.9 billion, a year-on-year increase of 17%. A group statement said: “Despite being a seasonally slow quarter, the airline business delivered robust results with a 15% revenue rise compared with a year ago, to RM4.5 billion, and a 50% increase in EBITDA to RM577 million. This positive performance in the three months to September 30 was boosted by favorable fuel prices and the strengthening Malaysian Ringgit against the US$. It was achieved despite having non-active aircraft.” Ancillary income was a key growth driver for the group contributing 18% to revenue. AirAsia Aviation Group CEO, Bo Lingam said: “We are optimistic about the fourth quarter, which is traditionally a strong period for the aviation industry. We expect to maintain load factors exceeding 85% and achieve robust average fares driven by year-end festivities. To accelerate this momentum, we will add five new A321neo to our Malaysian and Thai operations building our active fleet to 205 aircraft. We will launch 18 new routes, both domestically and internationally, to cater for demand from key markets including China and India. In 2025, we are returning two aircraft to our lessors and anticipate adding 11 new aircraft into our fleet increasing our operational aircraft to 233.”
