Low-cost airline Air Asia X is experiencing particularly high demand at the moment, leading to its first net profit since 2019. The carrier’s earnings currently consist of six quarters.
For the fifth quarter ended September 30, 2022, it generated a profit of $5.52 million. Sales are reported at $22.02 million. In the previous quarter, it posted a loss of $143.55 million. Sales declined slightly. This is attributed in part by management to higher revenue in the cargo segment, higher fuel prices and the weakening of the local currency.
“While we are cautious given the difficult operating conditions, we remain confident that the company’s recovery is within, if not within reach. At the beginning of Q5, AAX recorded three flights per week, increasing to 23 flights per week by the end of the period,” said Benyamin Ismail, CEO.
Corona restrictions have been lifted in many countries in the Asia-Pacific region. This follows a surge in demand. At the same time, this means that air tickets could be sold at relatively high prices. Air Asia X recently had an occupancy rate of 73 percent. 80,385 passengers were transported. For comparison: Between April and June 2022 there were only 8,892 travelers.
The post Air Asia X is back in the black appeared first on Aviation.Direct.
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