KUALA LUMPUR, 2 September 2025: AirAsia X has reported its unaudited financial results for the second quarter ended 30 June 2025 (2Q2025).
The company recorded a turnover of MYR660.8 million in 2Q2025, marginally lower year-on-year as capacity rose by 6% YoY to 1.12 million seats in a softer fare environment due to the low season.
Passenger traffic grew 6% YoY to 935,105 passengers, maintaining a sound passenger load factor of 83%, unchanged YoY despite the increased capacity.
During 2Q2025, the average base fare declined to MYR405, impacted by historical seasonality and cautious travel sentiments following the concerns about earthquakes in Japan. In managing seasonality, the company had also augmented its load-active, yield-passive strategy, leveraging the advantageous fuel price environment. Ancillary revenue bolstered the company’s performance with revenue per passenger up by 4% YoY to MYR257 and total ancillary revenue rising by 10% YoY, driven by higher passenger volumes and enhanced product offerings, particularly in the duty-free and merchandise segments.
Net profit rose sharply to MYR35.22 million against last year’s MYR4.82 million, boosted by favourable net foreign exchange gains. In 2Q2025, the company’s net operating profit improved 26% YoY to MYR1.38 million, supported by lower fuel prices. The company’s cost per available-seat-kilometres (ASK) (CASK) reduced by 13% YoY to 12.05 sen. At the same time, CASK ex-fuel stood at 6.38 sen, up by 9% YoY, reflecting operational ramp-up and higher maintenance expenses over the last 12 months.
In terms of capacity and network, the company’s ASK grew by 10% YoY to 4,851 million as AirAsia X continued to observe a strong PLF of beyond 85% from its East Asian routes in Japan, China and South Korea, driven by the peak spring travel season during the quarter.
AirAsia X Thailand (TAAX), the company’s associate, posted a revenue of MYR372.82 million and an operating loss of MYR13.2 million in 2Q2025. Passenger traffic during the quarter declined by 12% YoY to 318,257 passengers as seat capacity reduced by 5% YoY to 407,360 seats. TAAX’s PLF stood at 78% this quarter as performance was pressured by softened travel demand to Thailand overall following the earthquake incident in Bangkok and related security concerns.
The average fare remained firm at MYR690 during the quarter under review, and TAAX posted a net profit of MYR10.58 million, buoyed by net foreign exchange gains.
As of 30 June 2025, AirAsia X’s total fleet stood at 19 A330 aircraft, and of these, 18 aircraft were activated and operational. TAAX maintained a fleet of nine A330s after returning one aircraft to lessor during the quarter.
AirAsia X CEO Benyamin Ismail commented: “AirAsia X delivered resilient performance this quarter with a sound PLF of 83%, in line with capacity growth despite the seasonally softer second quarter. The Group’s operations remained profitable, even as one aircraft is pending reactivation and fares are softer, as the market tries to boost demand by taking advantage of the lower fuel price environment in 2Q2025.
“The final aircraft reactivation, initially planned for June 2025, has been deferred to the second half of the year due to the well-documented global MRO backlogs and spare parts shortages. While we are eager to return the aircraft to service, the safety of our guests and crew is of paramount importance, and the Group remains committed to returning the aircraft to service without compromise.
“In terms of network, the Group advanced its momentum, led by the long-awaited recovery in China, with routes recording PLF scaling 90%. During the quarter under review, the Group introduced additional flights to Australia to capitalise on winter demand, alongside the launch of services to Karachi, Pakistan. Following the success of Almaty, Kazakhstan, we continue our expansion into Central Asia with the launch in Tashkent, Uzbekistan, set for October this year.
“Looking ahead, we have also announced the launch of the much-anticipated flights to Istanbul, Türkiye in 4Q2025, marking our return to the western region after more than a decade. This milestone serves to strengthen the Group’s Fly-Thru connectivity across the wider AirAsia network, which already contributes approximately 20% of our passenger traffic and links over 140 destinations in ASEAN and beyond.
“For this quarter, ancillary revenue continued to drive the Group’s margins as we enhanced product personalisation and improved value bundling; the team is consistently reviewing our ancillary strategy to ensure maximised uptake. Combined with disciplined management of cost and operational efficiencies, we are confident that these efforts position us well for the busier quarter of the year. With recent favourable jet fuel prices and a stronger Malaysian Ringgit, the company prepares to tap into the further tailwinds for sustainable growth in the year ahead.”
