AirAsia X Berhad released its financial report on 28th May, detailing its progress in the three-month period that ended 31st March.
AirAsia X reported a revenue of RM940.1 million in the first quarter of this year, up by three percent year-on-year from the RM908.9 million total reported for the same period in 2024.
This increase was driven by a 12 percent growth in capacity to 1.29 million seats.
Likewise, in line with capacity expansion, AirAsia X achieved a 12 percent YoY increase in passenger traffic in Q1-2025, carrying 1.08 million passengers.
The increase in passenger traffic was driven by sustained demand across core markets and efficient capacity deployment, resulting in a robust Passenger Load Factor of 83 percent.
Relevant developments for the quarter
This quarter, average base fare stood at RM550, aligning with the Company’s load-active, yield-passive strategy.
Ancillary revenue remained a key margin driver in Q1-2025, with ancillary revenue per passenger rising ten percent YoY to RM277.
This uplift, combined with a higher passenger base, drove a 24 percent YoY increase in total ancillary revenue to RM298.3 million.
The growth reflects improved takeup rates, supported by enhanced digital personalisation and targeted product offerings that successfully maximised per-passenger spend.
AirAsia X also posted a net profit of RM50.2 million, representing a five percent margin even as its cost base expanded parallel to operational growth.
Cost per ASK edged up marginally to 13.97, driven by slightly higher staffing with additional aircraft in operation and airport-related expenses.
These were partially mitigated by a lower jet fuel price YoY and a reduction in aircraft lease expenses as most aircraft exited pay-by-hour arrangements since Q1-2024.
During the first quarter, AirAsia X expanded its Available Seat Kilometres by 17 percent YoY to 5,878 million, strategically aligning capacity to capture peak demand during festive and holiday periods.
Japan and Australia emerged as key outperformers within the network, with core routes delivering strong load factors between 85 and 90 percent, reflecting sustained travel demand and effective capacity optimisation in high-yield markets.
Progress among associates
AirAsia X Thailand (TAAX) recorded RM512.7 million in revenue and an operating profit of RM15.5 million in the first quarter.
TAAX carried a total of 500,128 passengers this quarter, up 14 percent YoY as seat capacity increased by 23 percent YoY to 604,584 seats, charting a sound PLF of 83 percent during the quarter.
The one-off effect of the hub transition from Suvarnabhumi to Don Mueang in October 2024 has stabilised, with the network now operating at peak performance.
TAAX’s average fare held strong at RM833 per passenger this quarter.
As of 31st March, AirAsia X’s total fleet now stands at 19 A330 aircraft following the induction of one additional aircraft from a third-party lessor.
Of these, 17 aircraft were activated and operational, and TAAX maintained a fleet of ten A330s, supporting network recovery and growth across core markets.
