Capital A Berhad and AirAsia X extended the deadline for the restructuring deal of their aviation business from May 31 to July 31, 2025. The deal has been delayed previously from January to March.
The company said this was to “allow additional time” for both companies to receive regulatory and financial approval and to “finalise the definitive terms” of AirAsia X's 1bn Malaysian ringgit ($234.9 million) private placement.
In conjunction, Capital A reported a profit after tax of 194 million ringgit ($45.58 million) for the first quarter of the year, swinging from its loss of 244 million ringgits ($57.34 million) a year prior.
The company reported 5.3bn ringgits ($1.25bn) in revenue for the period, and a net operating profit 290 million ringgits ($68.14 million).
AirAsia Aviation Group's group CEO Bo Lingam said the company is “anticipating a stronger momentum” in the second half of the year, driven by “seasonal demand uplift” across the region. In addition, more a favourable fuel environment and stronger currencies in the region.
Capital A Berhad said this comes “despite 15 aircraft on ground” during the period. The company added one aircraft to its fleet of 225 jets, with 207 active planes. Passenger numbers increased 5% to 16.2 million, though outpaced by capacity growth up 11%, with load factor dropping four percentage points to 86%.
Unit costs were down by 6% to 4.64 US cents, while unit costs excluding fuel were up slightly by 1% to 2.98 cents. The company's average fare declined by 9% to 241 ringgit ($56.61) in the quarter. The company said the drop in fare was driven by greater capacity across its aviation group and “passed on some savings from lower fuel price to guests”.
Ancillary revenue per passenger improved 5% to 60 ringgits ($14.09), while overall ancillary revenue increased 10% during the quarter, making up 20% of its aviation revenue.