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February 10, 2016 2:21 PM ET

Airlines

Company Overview of AirAsia X Berhad

Company Overview

AirAsia X Berhad provides long-haul air transportation services in North Asia, Australia, the Middle East, and West Asia. The company also offers management logistical and marketing services; and engine leasing services, as well as aircraft leasing services. It operates a fleet of 19 A330-300 aircrafts, 2 A340-300s, and 1 A330-200 for non-scheduled lease and charter operations. 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 based in Sepang, Malaysia.

Jalan KLIA S3

Mezzanine Floor, LCCT

Southern Support Zone

KLIA

Sepang,  64000

Malaysia

Founded in 2006

Key Executives for AirAsia X Berhad

AirAsia X Berhad does not have any Key Executives recorded.

AirAsia X Berhad Key Developments

Airasia X Says Taking Carrier Private Is Option

AirAsia X Berhad (KLSE:AAX) may be taken private. The Chief Executive Officer of AirAsia X Bhd said taking the company private is an option. Benyamin Ismail said in an interview on January 13, 2016, in New Delhi. “That’s something that I’ll let shareholders comment, both of us, as an option, both companies are looking at, AirAsia Berhad (KLSE:AIRASIA), us,” said Benyamin Ismail. “As a shareholder, the valuation of the company is very cheap at the moment, it’s very good to take it private.” However, Benyamin Ismail added, there currently are no plans to take the companies private and it could be a challenge to find investors willing to do so. AirAsia didn’t immediately reply to an e-mail seeking comment.

AIRASIA X Bhd Inks Charter Agreement with PT Indonesia AirAsia

AIRASIA X Bhd has inked a charter agreement with PT Indonesia AirAsia to operate 24 return flights between Jakarta and Kuala Lumpur. The company said it had entered into a charter agreement for the provision of 24 return flights between Jakarta and Kuala Lumpur, summing up 8,640 seats as a dedicated fly-through connectivity with the company's current Kuala Lumpur-Jeddah operations. The charter price is USD 648,000, which takes into consideration factors like the provision of aircraft for the charter flight, fuel, flight crew and maintenance of aircraft. The note also said the charter between AAX and IAA would expire on February 29, or at the end of the extension period as agreed by both AAX and IAA.

Airasia X Bhd Reports Unaudited Consolidated Earnings and Operating Results for the Third Quarter and Nine Months Ended September 30, 2015

AirAsia X Bhd reported unaudited consolidated earnings and operating results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported revenue of MYR 793,013,000 against MYR 698,764,000 a year ago. Operating loss was MYR 31,122,000 against MYR 132,628,000 a year ago. Net operating loss was MYR 44,209,000 against MYR 168,858,000 a year ago. Loss before taxation was MYR 291,419,000 against MYR 224,451,000 a year ago. Loss for the financial period attributable to equity holders of the company was MYR 288,193,000 or 9.1 sen per basic and diluted share against MYR 210,851,000 or 8.9 sen per basic and diluted share a year ago. The Group's revenue had increased by 13.5%. The increase was mainly due to increase in the Group's secured charter contracts, thereby increasing charter flights revenue from MYR 65.7 million in third quarter of 2014 to MYR 167.5 million in the current third quarter of 2015. Additional aircraft sub-leased to TAAX and IAAX during the year, leading to an increase in aircraft operating lease income from MYR 30.4 million for third quarter of 2014 to MYR 84.8 for third quarter of 2015. Increase in freight and cargo revenue by 13.2% from MYR 25.9 million in third quarter of 2014 to MYR 29.3 million in third quarter or 2015, due to a higher number of tonnage transported in the current quarter. In the current quarter ended September 30, 2015, the Group recorded a lower operating loss as attributed by higher revenue and lower fuel costs. However, net loss after tax increased in the current period due to higher foreign exchange losses recognised from the depreciation of the Malaysian Ringgit against major foreign currencies. The Group's operating loss had decreased due to the higher number of passengers carried in the current quarter, mainly contributed by the North Asian routes, as well as an increase in average passenger fare from MYR 415.91 in the previous quarter second quarter of 2015 to MYR 481.49 in the current quarter third quarter of 2015. The additional loss was mainly due to the weakening Ringgit currency, which led to higher foreign exchange losses recognized of MYR 241.3 million in third quarter of 2015, as compared to MYR 28.2 million in third quarter of 2015. For the nine months, the company reported revenue of MYR 2,208,609,000 against MYR 2,119,855,000 a year ago. Operating loss was MYR 139,880,000 against MYR 282,154,000 a year ago. Net operating loss was MYR 191,598,000 against MYR 360,536,000 a year ago. Loss before taxation was MYR 585,850,000 against MYR 404,952,000 a year ago. Loss for the financial period attributable to equity holders of the company was MYR 561,816,000 or 17.8 sen per basic and diluted share against MYR 350,917,000 or 14.8 sen per basic and diluted share a year ago. Net cash used in operating activities was MYR 121,727,000 against net cash from operating activities of MYR 212,197,000 a year ago. Property, plant and equipment - Additions was MYR 37,308,000 against MYR 427,528,000 a year ago. The Group's revenue had increased by 4.2%. The increase was mainly due to increase in the Group's secured charter contracts, thereby increasing charter flights revenue from MYR 214 million in the nine months period ended September 30, 2014 to MYR 436 million in the current period ended September 30, 2015. Additional aircraft sub-leased to TAAX and IAAX during the year, leading to an increase in aircraft operating lease income from MYR 55.7 million for the nine months ended September 30, 2014 to MYR 197.2 for the nine months ended September 30, 2015. The Group recorded a lower operating loss as attributed by higher revenue and lower fuel costs. However, net loss after tax increased in the current period due to higher foreign exchange losses recognized from the depreciation of the Malaysian Ringgit against major foreign currencies. For the quarter, the company reported seat capacity were 1,209,416 against 1,298,011 a year ago. Passengers carried were 901,884 against 1,044,118 a year ago. Load Factor was 75.1% against 80.6% a year ago. Revenue passenger kilometres were 4,333 million against 5,129 million a year ago. Available seat kilometres were 5,770 million against 6,366 million a year ago. For the nine months, the company reported revenue passenger kilometres increased by 12.9% from 11.30 sen for the nine months ended September 30, 2014 to 12.75 sen for the nine months ended September 30, 2015.

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