Capital A which lived live as AirAsia Group until recently has posted 4Q2021 revenue of RM717 million, up 118% year-on-year and 142% quarter-on-quarter.
The aviation revenue saw an increase of 108% YoY and 292% QoQ to RM463 million as domestic travel demand was strong on the back of easing travel restrictions and by the introduction of quarantine free travel bubbles in 4Q2021. The group’s digital businesses reported revenue growth of 141% YoY led by contributions from Teleport and airasia Super App. Overall, the aviation business contributed 64% of the total revenue while 36% was derived from the digital business.
During this period, the group’s EBITDA loss was RM366 million which was trimmed by 84% YoY.
The airasia Super App reported a 51% revenue growth, mainly driven by the recovery of air travel demand, the launch of more products including high demand for the airasia ride e-hailing service, and breakage income at airasia rewards. Teleport’s revenue grew 274% on the back of strong margin improvement in the cargo segment and deliveries volume growing 950%. This translates to a 90% growth QoQ, mainly contributed by the strategic growth of its cargo network to further establish its market presence. BigPay recorded a 29% YoY revenue increase in 4Q2021 due to improvement in payment and international remittance business in tandem with the rise of the user base.
The Group posted a 4Q2021 Net Loss Before Tax of RM964 million, which was lower by 57% YoY, against the corresponding quarter of the preceding year when it recorded a one-off impairment write-off and losses from fuel hedging.
For the full financial year 2021, Consolidated Group posted revenue of RM1.7 billion, down 47% from the preceding year. Airline revenue declined 65% as the Consolidated Group operated only 36% of capacity compared to 2020.
EBITDA loss was reported at RM1.1 billion, contracted by 68% compared to the EBITDA loss of RM3.4 billion in 2020. The Consolidated Group continued to enforce strict cost control measures and this prudent effort resulted in a reduction of operating costs of 49% YoY.
Net Loss After Tax was RM3.8 billion in FY2021, a 36% decline from the RM5.9 billion loss in the previous year. The revival of the airline industry, particularly with governments in Asean countries gradually easing travel restrictions has contributed to the Group’s reported growth in passengers carried and commendable load factor at 80% in the last quarter of 2021. This has helped improve the financial position of the Group.
