November 27, 2014 7:57 PM ET

Airlines

Company Overview of AirAsia X Berhad

Company Overview

AirAsia X Berhad provides long haul air transportation services in the Asia Pacific region and the Middle East. The company also offers management logistical and marketing, and engine leasing services. It operates a fleet of 19 A330-300 aircraft for scheduled services, as well as 2 A340-300 aircraft and 1 A330-200 for non-scheduled charters and leases. The company was formerly known as Fly Asian Xpress Sdn Bhd and changed its name to AirAsia X Berhad in September 2007. AirAsia X Berhad was incorporated in 2006 and is headquartered in Sepang, Malaysia.

Jalan KLIA S7

Lot PT16

Southern Support Zone

KLIA

Sepang,  64000

Malaysia

Founded in 2006

Phone:

60 3 8660 4600

Fax:

60 3 8660 4777

Key Executives for AirAsia X Berhad

AirAsia X Berhad does not have any Key Executives recorded.

AirAsia X Berhad Key Developments

AirAsia X Reports Operating Results for the Nine Months of Ended September 30, 2014

AirAsia X Berhad reported operating results for the nine months of ended September 30, 2014. For the nine months, the company reported passenger load remained at 82%, RASK fell 17.3% to 9.81 sen while average passenger fares were slightly more than a fifth lower to MYR 425.87 from the significant rise in ASK and promotional fares on new routes.

AirAsia X Berhad Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Full Year of 2014

AirAsia X Berhad reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenue of MYR 698,764,000 against MYR 601,491,000 a year ago. Operating loss was MYR 140,004,000 against operating profit of MYR 24,952,000 a year ago. Loss before taxation was MYR 224,451,000 against loss before taxation of MYR 18,945,000 a year ago. Loss after tax attributable to equity holders of the company was MYR 210,851,000 or 8.9 sen per basic and diluted share against profit after tax attributable to equity holders of the company of MYR 26,441,000 or 1.1 sen per basic and diluted share a year ago. The Group's LBITDAR was MYR 8,982,000 compared to Group's EBITDAR of MYR 104,930,000 for the same period a year ago. For the nine months, the company reported revenue of MYR 2,119,855,000 against MYR 1,627,904,000 a year ago. Operating loss was MYR 308,475,000 against operating profit of MYR 70,933,000 a year ago. Loss before tax was MYR 404,952,000 against loss before tax of MYR 42,589,000 a year ago. Loss after tax attributable to equity holders of the company was MYR 350,917,000 or 14.8 sen per basic and diluted share against profit after tax attributable to equity holders of the company of MYR 44,336,000 or 4.6 sen per basic and diluted share a year ago. Net cash generated from operating activities was MYR 212,197,000 against of MYR 81,145,000 a year ago. Property, plant and equipment additions were MYR 427,528,000 against MYR 1,014,141,000 a year ago. The Group's EBITDAR was MYR 44,567,000 compared to Group's EBITDAR of MYR 288,449,000 for the same period a year ago. The change in revenue mainly due to the lower average passenger fares recorded in the nine months ended September 30, 2014. The company forecast a 46% higher core net loss of MYR 419 million for full-year of 2014 versus a MYR 22 million net loss last year.

AirAsia X Berhad Reports Traffic Results for the Third Quarter Ended September 30, 2014

AirAsia X Berhad reported traffic results for the third quarter ended September 30, 2014. For the period, the company achieved a 24% growth in Available-Seat-Kilometres to 6.36 million, despite significantly softer market conditions. The higher passenger growth was translated to above 80% of the passenger load factor, as it continued to stimulate demand to fill up new capacity injected during the quarter. However, the capacity added in the third quarter was lower than earlier planned. In terms of quarter-on-quarter growth, the ASK grew by a mere 2% from the 6.26 million recorded in the second quarter of 2014, primarily contributed by the launch of new a service to Xian, China, on July 2, 2014. The company achieved strong passenger traffic in Revenue-Passenger-Kilometres to 5.12 million from 4.22 million, with 1.04 million passengers carried during the third quarter of 2014, compared to 0.84 million passengers in the same period last year.

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