KUALA LUMPUR (April 10): AirAsia X Bhd (KL:AAX) reported a 9% jump in year-on-year passenger growth in the first financial quarter ended March 31, 2026 (1QFY2026), according to a statement on Friday. This is the group’s first consolidated report after acquiring AirAsia’s aviation assets, bringing all AirAsia airlines under one listed entity.

The group carried a total of 18.9 million passengers during the quarter, with recovered capacity up to 98% of pre-pandemic levels and load factor holding firm at 85%. The key driver of performance was robust domestic demand, which saw double-digit growth in passenger traffic and capacity in Malaysia, Thailand, Indonesia, and the Philippines.

Internationally, the group’s North Asia routes stayed strong, with China flights from Malaysia and Thailand performing well and achieving an 85% load factor. The group continues to benefit from steady demand between China and Asean.

It said in March 2026, the group showed strong operational performance despite rising geopolitical tensions and higher jet fuel prices.

Passenger numbers rose 19% year-on-year to 6.3 million, outpacing a 15% increase in capacity, driven by festive travel demand. Load factor also improved by two percentage points to 84%.

Although fares and fuel surcharges were adjusted to manage higher costs, AirAsia remained a preferred choice for affordable travel. The group also benefitted from strong demand on Central Asia routes and increased “fly-thru” traffic across its Asean network.

“This first quarter of 2026 validates the strength of our consolidated model. Our RPK (revenue passenger kilometres) growth of 7% surpassed ASK (available seat kilometres) growth of 6%, clearly demonstrating the success of our network optimisation, ensuring capacity is deployed where demand is strongest,” Air Asia X chief executive officer Bo Lingam said in the statement.

In response to external fuel pressures, he added that the group had moved decisively in March 2026 to manage its margins through adjusted fares and fuel surcharges.

“Crucially, we have seen no significant signs of demand disruption. Our March load factor actually increased year-on-year, as our guests prioritised the value and connectivity we provide during the Raya and Lebaran peak.”

“Looking ahead, this momentum has carried into April, with forward bookings remaining firm across our core network. Our priority is to maximise the productivity of our active fleet while keeping our integrated network lean and adaptable. By prioritising high-yield corridors and maintaining disciplined cost management, we are prepared to navigate the uncertainties of the months ahead with resilience and agility,” he further said.

The group’s consolidated air operating certificates include AirAsia Malaysia, Thailand, Indonesia, Philippines, and Cambodia, as well as AirAsia X Malaysia.

By 1QFY2026, the AirAsia Group fleet grew to 240 aircraft, while AirAsia X Thailand operated 11 aircraft.

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