AirAsia X has reported a net profit of 50.2 million ringgits ($10.5 million) in the first quarter of 2025, dropping from 80.1 ($18.9 million) in the same period last year.
Revenue totalled 940.1 million Malaysian ringgits ($197.4 million) during the first quarter of the year, a 3% increase on the year prior. The Kuala Lumpur-based carrier said that this increase was driven by a 12% jump in capacity.
“The board is pleased to share that the results from first quarter 2025 are encouraging and is indeed optimistic that the company is on the right trajectory towards achieving its published internal targets,” the company read in its earnings report filing. The company added in the filing it was also optimistic that it “will maintain this momentum” for the year. The company said it is it monitoring foreign exchange rates and fuel price trends, along with “volatile” geopolitical factors.
Unit costs edged up marginally to 13.97 sen ($0.029), the company said this was driven by slightly higher staffing with additional aircraft in operation and airport-related expenses. These were partially mitigated by a lower jet fuel price in comparison to the first quarter of 2024 and a reduction in aircraft lease expenses as most aircraft exited pay-by-hour arrangements since the first three-month period of last year.
During the quarter, AirAsia X’s average base fare stood at 550 ringgits ($115.5), with ancillary revenue per passenger rising 10% on the same period of the previous year to 277 ringgits ($58.2). This uplift, combined with a higher passenger base, drove a 24% increase in total ancillary revenue to 298.3 million ringgits ($62.6 million).
“Establishing seamless connectivity sets us up for a massive upside, particularly as we advance towards the proposed acquisition of Capital A Berhad’s aviation business, which includes AirAsia Berhad and AirAsia Aviation Group Limited, encompassing AirAsia Thailand, AirAsia Indonesia, AirAsia Philippines and AirAsia Cambodia,” said Benyamin Ismail, AirAsia X CEO.
As of March 31, 2025, AirAsia X’s total fleet increased to 19 A330 aircraft, following the induction of one additional aircraft from a third-party lessor. Ismail stated that during the quarter 18 of the carriers 19 A330s were operational, with the final aircraft “on track” for reactivation by the middle of the year, noting that the airline is focused on ensuring full fleet deployment to meet market demand.