KUALA LUMPUR (Oct 24): AirAsia X Bhd (KL:AAX) reported a 34% increase in passenger traffic, carrying 1.08 million passengers in the third quarter of 2024 (3Q2024), up from 807,004 in 3Q2023, driven by expansion in networks and daily frequencies.

In a statement on Thursday, AAX said its available seat per kilometre (ASK) capacity for 3Q2024 rose by 17% year-on-year (y-o-y) to 5.14 billion, compared to 4.41 billion in the same period last year.

This growth was attributed to the reactivation of an additional aircraft, as well as daily flight expansion across half of AAX’s routes, it said.

The passenger load factor (PLF) increased by four percentage points y-o-y to 84%, and improved slightly from 83% in 2Q2024.

AAX said capitalising on the fifth freedom right it holds in the market, it has launched flights to Changsha, China (four times per week), Medina, Saudi Arabia (twice per week) and reintroduced its Taipei, Taiwan-Osaka, Japan route (seven times per week). 

AAX has also increased flight frequencies to Hangzhou and Xi’an — two of its most profitable routes in China — to six times and four times per week, respectively.

As of end-September, more than half the routes within its network served daily flights as the company continues to focus on catering to high travel demand, it added.

As of Sept 30, the fleet size remained at 18 A330s, with 16 aircraft activated and operational, as compared to 17 planes a year ago.

On its associate, AAX reported that AirAsia X Thailand recorded an 80% PLF during 3Q2024, down by two percentage points compared to the previous year as the company introduced higher seat capacity of 2% to 426,064 seats.

The ASK capacity decreased by 2% y-o-y to 1.77 billion in 3Q2024.

“During the quarter under review, AirAsia X Thailand launched flights to Nagoya in Japan, marking its fourth destination in this perennial favourite country for travellers,” AAX added.

AirAsia X Thailand’s fleet size stood at eight A330s, the same compared to last year.

AAX shares closed five sen or 2.5% lower at RM1.94 on Thursday, bringing its market capitalisation to RM867.32 million.