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AirAsia X marks first month of Karachi-Kuala Lumpur route
AirAsia’s medium-haul affiliate AirAsia X (AAX) celebrated the first full month of operations for its Karachi–Kuala Lumpur route on Monday, 30th June. The route between Malaysia and Pakistan recorded an average load factor of 80 percent since the inaugural flight took off on 30th May. The consistently strong demand from both Karachi and Kuala Lumpur reflects the robust air travel market between Pakistan and Malaysia. Indeed, forward bookings for the next quarter remain healthy, with solid load factors projected for the months to come, further affirming confidence in the route’s long-term potential. AirAsia CEO Benyamin Ismail said of the route’s strong performance: “The response to this route has exceeded our expectations. We are not only connecting two vibrant cities but also enabling affordable access to more than 130 destinations across the AirAsia network. This aligns with our strategy of expanding into high-potential, underserved markets with strong demand for value-based medium-haul travel.” Likewise, Malaysian high commissioner to Pakistan Mohammad Azhar Bin Mazlan declared: “The launch of AAX direct flights between Karachi and Kuala Lumpur, and the strong momentum it has achieved in just one month, marks a significant step forward in strengthening the people-to-people, economic, and cultural ties between Malaysia and Pakistan. Enhanced air connectivity such as this opens new avenues for trade, tourism, education, and investment. We commend AAX for its commitment to improving regional connectivity and are proud to support its efforts in making Malaysia even more accessible to travellers from Pakistan, especially as we look ahead to Visit Malaysia 2026.” A great way to connect with destinations throughout the Asia-Pacific Beyond point-to-point traffic, more than half of Pakistani guests connect via Kuala Lumpur to other destinations across Asean and beyond through AirAsia’s Fly-Thru service. Top connecting cities include Bali, Phuket, Singapore, Perth, Melbourne and more, representing an increasing appetite for multi-stop travel among Pakistani outbound passengers. Additionally, 90 percent of over 7,000 travellers in this sector thus far are non-Malaysians, highlighting the route’s role in strengthening Kuala Lumpur’s position as a regional hub. To celebrate the milestone, AAX is offering limited-time promotional all-in fares starting from only PKR59,999 one-way from Karachi to Kuala Lumpur and from RM759 one-way from Kuala Lumpur to Karachi. Bookings are available now through the AirAsia MOVE app, airasia.com, and authorised travel agents till 6 July for the travel period from 14th July 2025 to 30th June 2026.
AirAsia X launches new route to Tashkent, Uzbekistan
Photo Caption: (L-R) Mr. Mohd Akbal Setia, Director of International Promotions for America, Europe and Oceania, Tourism Malaysia; Ms. Amanda Woo, Chief Commercial Officer, AirAsia Aviation Group; Mr. Chua Choon Hwa; Deputy Secretary-General (Tourism) of the Ministry of Tourism, Arts & Culture; Mr. Benyamin Ismail, CEO of AirAsia X; His Excellency Mr. Karomidin Gadoev, Ambassador of Uzbekistan to Malaysia; Dato' Fam Lee Ee, Non-Independent Non-Executive Chairman of AirAsia X and Mr Ikhlas Kamarudin, CEO of Ikhlas.com. AirAsia X (AAX) celebrated its growing presence in Central Asia with the announcement of a brand new route to Tashkent, Uzbekistan, commencing on 15 October 2025 with a frequency of three times a week. Following AAX’s entry into the region with Almaty, Kazakhstan in early 2024, with a consistently strong load factor and increased flight frequencies, the Tashkent route is aimed at further facilitating air travel between Southeast Asia and Central Asia, fostering stronger trade, tourism and business ties between the regions. This connectivity will also enable more travellers in Asean as well as Australia, to explore Uzbekistan affordability with AirAsia’s seamless Fly-Thru options, spanning over 130 destinations worldwide. Benyamin Ismail, CEO of AirAsia X said: “The launch of our Kuala Lumpur-Tashkent route is a strategic milestone in AAX’s continued growth across Asia and beyond. Central Asia presents immense potential, with Uzbekistan’s economy growing steadily and a rising middle class eager to explore new destinations. We have seen a marked increase in passenger demand for Central Asia following our successful Almaty route, and our vision is to create a comprehensive network that supports regional development and connects people to new places whilst creating unforgettable travel experiences along the way.” H.E. Mr. Karomidin Gadoev, Ambassador of Uzbekistan to Malaysia commented: “The commencement of direct flights by AAX between these two major cities is a landmark development for Uzbekistan-Malaysia relations. With Uzbekistan’s tourism sector expanding rapidly and Malaysia’s strong position as a tourism and business hub in Southeast Asia, this route will significantly enhance connectivity, foster tourism exchanges, and open new avenues for investment. We are excited to welcome AAX to this promising market and look forward to a fruitful venture.” Travellers can soon experience the magic of Tashkent with a promotional introductory fare from RM99 all-in* one-way economy seats starting from 23 June 2025 until 29 June 2025 for the travel period between 15 October 2025 and 14 September 2026. This special fare is subject to availability, with subsequent fares starting from RM899**. Nestled in the heart of Uzbekistan, its capital Tashkent, is a thriving city renowned for its stunning Islamic architecture, bustling bazaars and leafy parks. A world of opportunities awaits the wanderlust in Tashkent ‒ journey through the magnificent Silk Roads and bask in the picturesque beauty of its towering monuments. As the country’s largest city and economic hub, Tashkent boasts a growing tourism sector and expanding business opportunities, making it an increasingly popular destination for both leisure and commerce.
AirAsia X releases financials for Q1-2025
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.
Revenue for AirAsia X in Q1 2025 rises by 3% YoY to RM940.1 million
The Company reported a revenue of RM940.1 million in 1Q25, increasing by 3% year-on-year (“YoY”) from RM908.9 million in 1Q24 driven by a 12% growth in capacity to 1.29 million seats. In line with capacity expansion, AirAsia X achieved a 12% YoY increase in passenger traffic in 1Q25, carrying 1.08 million passengers. This was driven by sustained demand across core markets and efficient capacity deployment, resulting in a robust Passenger Load Factor (“PLF”) of 83%. Ancillary revenue remained a key margin driver in 1Q25 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 1Q25, with ancillary revenue per passenger rising 10% YoY to RM277. This uplift, combined with a higher passenger base, drove a 24% 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. The Company posted a net profit of RM50.2 million, representing a 5% margin even as its cost base expanded parallel to operational growth. Cost per ASK (“CASK”) edged up marginally to 13.97 sen 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 1Q24. Japan, Australia and Kazakhstan emerged as key outperformers In 1Q25, AirAsia X expanded its Available Seat Kilometres (“ASK”) by 17% 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%, reflecting sustained travel demand and effective capacity optimisation in high-yield markets. AirAsia X Thailand (“TAAX”), the Company’s associate, recorded RM512.7 million in revenue and an operating profit of RM15.5 million in 1Q25. TAAX carried a total of 500,128 passengers this quarter, up 14% YoY as seat capacity increased by 23% YoY to 604,584 seats, charting a sound PLF of 83% 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 31 March 2025, AirAsia X’s total fleet increased to 19 A330 aircraft following the induction of one additional aircraft from a third-party lessor. Of these, 17 aircraft were activated and operational. TAAX maintained a fleet of 10 A330s, supporting network recovery and growth across core markets. Fly-Thru connectivity accounts for approximately 20% of passenger traffic AirAsia X CEO, Benyamin Ismail said: “This has been a stellar quarter of delivering sustained passenger load and profitability. In February, we took delivery of one additional aircraft, and today, the Company has 18 out of its 19-aircraft fleet operational. The final aircraft is on track for reactivation by mid-year, and we are focussed on ensuring full fleet deployment to meet market demand. “Our network continues to demonstrate resilience, particularly on core routes to Japan and Australia, where load factors consistently trend around the 90% mark. Building on this momentum, we are capitalising on our first-mover advantage in Central Asia by ramping up capacity to Almaty, Kazakhstan in the second half of the year, with further expansion in the pipeline. Recently, we have announced the suspension of Nairobi, Kenya. It was difficult, but crucial for us, as the initial assumption for premises of financial support did not materialise eventually. Essentially, we are driven by disciplined network management, allowing us to redeploy capacity to higher-yielding, strategically aligned markets. “A key pillar for our business is Fly-Thru connectivity, which consistently accounts for approximately 20% of our passenger traffic, anchored by high-performing routes from Korea, Japan and Kazakhstan. Establishing seamless connectivity sets us up for a massive upside , particularly as we advance towards the proposed acquisition of Capital A Berhad’s aviation business, which includes AirAsia Berhad and AirAsia Aviation Group Limited, encompassing AirAsia Thailand, AirAsia Indonesia, AirAsia Philippines and AirAsia Cambodia. The integration will unlock immense synergies and enhance our network connectivity, ultimately elevating the enlarged group’s competitive positioning in the region and beyond. “We’re pleased to report continued double-digit growth in ancillary revenue per passenger, driven by focused personalisation and improved takeup rates. This, along with our lean cost structure and operational efficiencies, positions us for a strong 2025. We are mindful of the softer travel season in the second and third quarters, but are encouraged by the forward sales momentum. We are vigilant and prudent in the face of global geopolitical uncertainties, but are confident that we are able to stay disciplined and growth-oriented in a sustainable manner.”
AirAsia X launches direct route to Karachi
AirAsia X announced a new route to Pakistan’s largest city Karachi from 30th May. The four-times-weekly flights mark another milestone in the airline’s international expansion. With 22 routes in total, the airline strengthens its commitment to affordable medium-haul travel. AirAsia X CEO Benyamin Ismail said of this new offering: “We are thrilled to launch AAX’s next adventure in Karachi, further strengthening our presence in the South Asian market. Karachi is a dynamic city with a rich history and a thriving modern economy, and we are proud to be the sole low-cost carrier connecting this vibrant metropolis to our extensive network beyond Malaysia. This route will also open up hundreds of seamless connectivity options for travellers to key markets such as Australia, China, Thailand, and more via our Fly-Thru services.” Enhancing connectivity As the only low-cost carrier in Malaysia to provide direct service to Karachi, this new route enhances affordable connectivity between the two nations, allowing Malaysian travellers and the thriving Pakistani community in Malaysia to fly home affordably. It also plays a pivotal role in linking travellers from Pakistan to Malaysia and the rest of ASEAN, connecting them to the region’s vibrant trade, tourism, and economic opportunities. Ismail added: “With plenty to explore and experience, be it for business, leisure or pilgrimage, both nations are set to benefit from immense tourism and travel potential with this new flight service. AAX anticipates carrying more than 100,000 guests annually on this route, further reiterating our commitment to support the Malaysian government’s initiative to welcome 30 million tourists in line with the Visit Malaysia 2026 campaign. We look forward to mutually benefitting the growth and prosperity of both countries.”
AirAsia X adds internal targets to its financial disclosures
As a way of reinforcing its commitment to transparency and accountability, AirAsia X (AAX) is adding its internal targets to its financial disclosures. This initiative aims to provide greater clarity on the company’s financial performance in compliance with Bursa Malaysia’s regulatory framework to support informed decision-making among investors and stakeholders. The introduction of internal targets reflects AAX’s drive to elevate corporate governance standards by providing clear guidance to the investment community on its financial performance and value-creation strengths. Greater accuracy in reporting By enhancing visibility into revenue, EBITDA, and other key financial metrics, the company aims to facilitate a more accurate assessment of its market position and growth potential. Under the new structure, AAX’s consolidated financial guidance will outline revenue performance, EBITDA, and non-margin metrics. AAX chair Fam Lee Ee said: “As we accelerate towards becoming a leading airline group and evolve into one of the region’s largest aviation groups, setting clear financial targets is a critical step in ensuring transparency, accountability, and sustainable growth. Given the scale of our multi-country operations, these targets will serve as our true north, keeping us focused on creating long-term value for our shareholders and broader stakeholders” Fam added that the initiative strengthens accountability across all operational areas, spanning aviation and non-aviation business segments. He added: "We can optimise efficiencies, fine-tune budgets, establish realistic forecasts, and drive strategic decision-making by setting structured financial goals. It also provides financial analysts and investors with deeper insight into our fundamentals, operating environment, and anticipated profitability ensuring we remain agile, responsive to market shifts, and well-positioned for continued success.” Moving forward, AAX will share internal targets alongside each quarterly financial report, starting with its Q42024 and Full Year 2024 Financial Results disclosure. These internal targets are solely management aspirations and do not constitute financial estimates, forecasts, or projections under Bursa Malaysia’s financial forecasting and disclosure standards.
Capital A, AirAsia X extend deadline for disposal of AirAsia Aviation Group
Capital A Berhad announced that it has mutually agreed with AirAsia X Berhad (AAX) to extend the cut-off dates for the completion of the proposed disposal of AirAsia Aviation Group Limited (AAAGL) and AirAsia Berhad (AAB) to AAX. The announcement was made on Monday, 27th January. The timeline has been extended by two months, from 25 January to 24 March, allowing both parties additional time to finalise the transaction for AAAGL and AAB. Notably, all due diligence for both entities has already been successfully completed. This extension ensures that both parties have adequate time to fulfill the necessary conditions and finalise the transaction. All other terms and conditions of the SSPAs remain unchanged. Considerable progress Capital A chief executive Tony Fernandes said: “We are encouraged by the progress we’ve made, and remain committed to ensuring everything is right on track. This extension provides the time needed to finalise all aspects of the transaction with precision, including obtaining consent from the lessors, which is primarily done, and receiving the earliest date from the High Court of Malaya. Once the court approves the arrangement, we will swiftly move to complete the placement, which is already in advanced discussions.” With key milestones already achieved, including the completion of due diligence for both AirAsia Aviation Group and AirAsia Berhad, as well as the approval from shareholders of both Capital A and AirAsia X in October 2024, the parties are now in the final stage of negotiations. Fernandes added: “Upon completion, this transaction will result in a stronger, globally competitive AirAsia, leveraging synergies between short-haul and long-haul operations to improve efficiency, profitability, and shareholder returns. It will also enhance connectivity and customer experience for our guests. This move unlocks significant growth opportunities, as it aligns with Capital A’s broader strategy to lead in the digital aviation and services space. Capital A is looking forward to accelerating the growth of our technology-driven aviation services and digital ecosystem, particularly in response to the anticipated global rise in travel demand.”
Thai AirAsia X resumes direct flights to Sydney
Thai AirAsia X officially resumed its direct flight services to and from Sydney, Australia on Sunday, 1st December. Flights to and from the Australian city are being operated from Thai AirAsia X’s main hub at Don Mueang International Airport. The reintroduced route flies a total of six weekly flights for now. The only LCC flying from Bangkok to Sydney The new route launch makes Thai AirAsia X the only low-cost airline providing direct services from Bangkok-Don Mueang to Sydney, offering seamless connections for passengers traveling from Sydney to a wide range of destinations across the AirAsia Group network. These include favourite destinations among Australian travelers such as Krabi, Phuket, and Chiang Mai, as well as popular international destinations like Japan, South Korea, India and China. According to Thai AirAsia X CEO Tassapon Bijleveld: “The return of Thai AirAsia X to Sydney comes along with an enhanced flight network within the AirAsia Group that will give travelers the much sought after convenience and seamlessness especially with our FlyThru connections to over 50 popular destinations. Guests from Australia will also find the flight schedules between Sydney and Bangkok very favourable and they can choose any flight from the increased frequency of six flights per week. As a show of appreciation to our valued guests, we are also introducing a new meal set exclusively for our Premium Flatbed guests.” Bijleveld also pointed out how operating from Don Mueang greatly enhances connectivity with the AirAsia Group’s extensive network, particularly to destinations in India, where there is a strong and growing demand for travel to Australia. He said: “Our FlyThru service also provides a hassle-free experience, allowing guests to travel seamlessly as they only need to clear immigration and collect their luggage at the final destination.”
Thai AirAsia X opens new direct route between Thailand and India
Thai AirAsia X announced the expansion of its route network with new direct flights from Bangkok’s Don Mueang Airport to the Indian capital Delhi. Travellers from Thailand will soon experience the grandeur of the sprawling Indian capital from only THB 3,290 per trip beginning 15th December 2024. According to Thai AirAsia X chief executive Tassapon Bijleveld, the airline is initiating services to India by beginning with the strategic and largest city of Delhi, its primary centre of culture, trade, and economics. Bijleveld added: “Delhi is home to many tourism highlights of India, such as India Gate and Red Fort. Thai AirAsia X believes its bridging of Thailand and India will promote strong relations and increase the ease of travel between the two countries. Operating out of Don Mueang Airport, arrivals on the route will have access to the largest hub of domestic travel in Thailand and beyond on the AirAsia Group network spanning over 130 destinations.” With the addition of direct flights to Delhi, AirAsia now operates 13 connections between Thailand and India. Twice weekly in the beginning Thai AirAsia X will fly the Don Mueang-Delhi route two times a week on Wednesday and Sunday, before increasing frequency to four times a week on Monday, Wednesday, Friday, and Sunday from 15 January 2025. Don Mueang-Delhi will be served by Thai AirAsia X (XJ) 285-377 seat Airbus A330 aircraft. The just over four-hour flight, XJ230, departs from Don Mueang Airport at 12.45 hrs to arrive in Delhi at 15.50 hrs. Return flight XJ231 departs from Delhi at 17.05 hrs to arrive in Don Mueang at 22.50 hrs. Bijleveld said: “We are confident this route will be well received by both Thai and international travellers and that it will draw Indian visitors to Thailand, who may use our Fly Thru service to connect to domestic destinations such as Chiang Mai, Phuket, Krabi, and Hat Yai, or even continue onward to Pattaya or other destinations in the AirAsia Group network.”
Capital A shareholders approve disposal of aviation business to AirAsia X
Capital A announced that shareholders voted in favour of the proposed disposal of the Group’s aviation business to AirAsia X at an Extraordinary General Meeting (EGM) convened on Monday, 14th October. This approval marks a pivotal milestone, enabling Capital A to focus on the four strategic pillars that will drive its transformation into a future-proofed tech-driven aviation services company via Capital A Aviation Services (CAPAS), MOVE Digital, Teleport (Logistics), and the Brand AA company. With regard to next steps, Capital A will seek a court order to distribute the consideration shares to shareholders through a planned reduction and repayment of the company’s issued share capital. It will also be securing approval from the holders of Redeemable Convertible Unsecured Islamic Debt Securities (RCUIDS) at the next EGM, marking another critical milestone in Capital A’s journey. These critical steps will enable Capital A to achieve a clean balance sheet and focus on submitting its regularisation plan before the year end, with the aim of exiting Practice Note 17 (PN17) status. Capital A Berhad chief executive Tony Fernandes said: "This is a watershed moment for Capital A and the AirAsia group of airlines, building on the tremendous value created over the past 23 years. With shareholder approval to divest the aviation business, we are unlocking a bright new future by delineating our pure-play aviation business from aviation support services. This clarity will benefit both shareholders and customers, allowing us to redefine the future of travel in the region." Working on a broader strategy Fernandes added that Capital A’s broader strategy is aimed at developing technology-driven aviation services and digital businesses that will support the significant anticipated growth in travel demand. He said: “Separating the aviation and non-aviation businesses allows us to sharpen our focus on maturing the high-growth aviation support services and digital businesses we have built to support the aviation business. Upon securing AAX shareholders approval at the [next] EGM, the aviation businesses will be able to consolidate to form a game-changing AirAsia Group, with synergies between short-haul and long-haul operations driving greater efficiency, profitability, and shareholder returns.” Fernandes further emphasised that Capital A is well-positioned for accelerated growth, "From digital travel to logistics and brand management, we are building a robust, tech-powered aviation services ecosystem. Today’s approval from our shareholders also paves the way for Capital A to move to a clean balance sheet that will provide the clarity and flexibility to finalise our regularisation plan and exit PN17 status soon." This restructuring aligns with the Group’s strategy to evolve into an agile, technology-focused organisation, built around four key pillars: aviation services, travel and fintech via MOVE Digital, the expansion of logistics solutions throughout ASEAN, and managing the globally recognised AirAsia brand through strategic licensing and partnerships.
HEDNA Bangkok – September 11-12 2023
The agenda will bring a wide array of current topics in our industry to the main stage. You’ll hear from experts in Distribution, Fintech and Payments, Marketplaces, Leading Executives and of course our Hoteliers will be bringing their perspectives to these topics and so much more.