AirAsia X third-quarter earnings soar to RM121.63m

KUALA LUMPUR: AirAsia X (AAX) Bhd’s net profit for the third quarter ended Sept 30, 2024 surged to RM121.63 million, up from RM5.56 million in the same quarter last year.

Revenue increased by 23% to RM795.02 million, compared to RM648.35 million previously, driven primarily by higher ticket sales and ancillary revenue, the low-cost carrier said in a filing with Bursa Malaysia.

The group’s earnings before interest, taxes, depreciation, and amortisation for the quarter under review declined to RM76.1 million from RM132.14 million in Q3’23, AAX said.

For the nine months ended Sept 30, 2024, AirAsia X’s net profit dropped to RM206.57 million against RM339.1 million, while its revenue rose to RM2.37 billion from RM1.71 billion previously.

The low-cost airline said the group’s full reactivation of its 18-strong aircraft fleet is nearing completion with only one plane remaining for reactivation work, with the final reactivation now expected by the first quarter of the financial year 2025.

On prospects, the group expects its trajectory to sustain its momentum, ensuring the viability of its earnings for the rest of the financial year ended 2024, transitioning into the final and busiest quarter for the international travel industry.

“Furthermore, the recent strengthening of the ringgit has been particularly encouraging, and the group remains focused on maintaining discipline in its cost structure,” AAX added. – Bernama