During the period, the Group reported a revenue of RM2.52 billion, over four times the revenue reported in the same period of FY22 when the group recoded a revenue of RM658 million., full year net profit was at RM366 million compared to RM33 billion.
This was attributable to the recovery of its scheduled passenger flight operations segment and boosted by the exceptional improvements in ancillary income. Passenger demand continues to be encouraging, as the Company registered a total of 2.8 billion passengers carried against 417,195 passengers in 2022, with a sound PLF of 80%, compared to 78% last year.
In terms of associate’s performance, AirAsia X Thailand registered a turnover of RM469.5 million in 4Q23, 79% higher YoY and reflecting about 93% recovery rate compared to the same period in 2019. This quarter, TAAX posted a net profit of RM1.3 billion on the back of the recognition of the gain from its rehabilitation.
The multifold surge it said is attributable to the recovery of international travel and the Group’s available seat capacity over the past 12-month period. For the most part of 2022, the Group’s revenue was primarily generated from charter and freight services, whilst in 2023, the Group’s number of operational aircraft had grown to 18 aircraft by December 2023, subsequently allowing the Group to meet the demand for international travel. This is in line with more fleets of aircraft this quarter to 18 operational aircraft,
The Group recorded EBITDA of RM68.7 million for the quarter under review, against the EBITDA of RM132.4 million in the preceding quarter ended 30 September 2023. In the prior quarter, the higher EBITDA are contributed mainly from the reversal of prior period operational accruals.
Revenue remained strong at RM818.2 million with an increase of 26% from RM648.4 million. This is attributable to a healthy passenger load factor of 82% along with higher average passenger fare of 20%.
Operating costs for this quarter continue to be impacted by the weakening of the Malaysian Ringgit against the US Dollar as well as he higher fuel price (Q4’23: USD131/barrel; preceding quarter Q3’23: USD113/barrel). That being said, the Group’s continues to be focused on cost management and have mitigated the otherwise heavier impacts.
AAX stock is currently suspended due to its annual report announcement and will resume at 2.30pm
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