AirAsia X sees turnaround

29 May 2015  2034 | Business & Trade Fairs

SEPANG  AirAsia X Berhad, the long-haul low-cost airline affiliate of the AirAsia Group, reported Wednesday its financial results for the First Quarter ended 31 March.
AirAsia X Group CEO Datuk Kamaruddin Meranun said: “2014 has been a challenging and extraordinary year for us and the aviation industry as a whole. The profitability in 2014 was affected mainly by tragic aviation incidents, an irrational price war and overcapacity posted by the national carrier.”
“Since taking the helm as Group CEO of AirAsia X, the management team and I have also been reviewing all aspects of the business to consolidate the initiatives needed to address the company’s internal inefficiencies.”
The group CEO said he was optimistic that improvements that have kicked in during the second half of the year will lead to a better financial footing in FY2015.
inside no 5“There will be more integration with our partners in 2015 and this is especially with AirAsia BIG who has a large number of members base.
AirAsia Big has a 13 million members, but only 2.2 million members are active.
The group will look at ways to reach inactive members.
Thailand AirAsia X (“TAAX”) has performed well, achieving 82% average passenger load factor and a net profit of THB90 million in the 1Q15 despite the recent set back by new ICAO-driven restrictions from Japan and South Korea, the group CEO reported.
“TAAX will continue to operate using Malaysia AirAsia X (“MAAX”) call-sign aircraft to the newly launched Sapporo service until they are granted with the necessary approval from Japan authority. The operations to Osaka, Narita and Incheon remains unaffected however there will not be any expansion for Japan and Korea for the time being.”

sourced:ttrweekly.com 

      

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