August 24, 2016 3:43 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 and aircraft leasing services. It operates through a fleet of 29 A330-300 aircrafts. 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 Berhad Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Reports Operating Results for the Second Quarter Ended June 30, 2016

AirAsia X Berhad reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported net profit of MYR 1.02 million for the second quarter ended June this year, from a net loss of MYR 132.94 million in the comparable period a year ago. Revenue rose 35.2% to MYR 883.16 million from MYR 653.03 million previously. Operating profit was MYR 20,031,000 against operating loss of MYR 99,921,000 a year ago. Net operating profit was MYR 10,644,000 against net operating loss of MYR 118,008,000 a year ago. Loss before taxation was MYR 9,230,000 against MYR 162,384,000 a year ago. EBITDAR was MYR 261,115,000 against MYR 125,208,000 a year ago. For the six months, the company reported net profit of MYR 180.51 million compared with a net loss of MYR 258.86 million previously. Revenue stood strongly at MYR 1.85 billion. Operating profit was MYR 125,149,000 against operating loss of MYR 93,990,000 a year ago. Net operating profit was MYR 106,200,000 against net operating loss of MYR 132,622,000 a year ago. Profit before taxation was MYR 209,287,000 against loss before taxation of MYR 279,663,000 a year ago. Earnings per share basic and diluted were MYR 4.4 against loss per share basic and diluted of MYR 9.7 a year ago. Net cash generated from operating activities was MYR 88,928,000 against net cash used in operating activities of MYR 93,989,000 a year ago. Additions to property, plant and equipment was MYR 1,461,000 against MYR 11,029,000 a year ago. EBITDAR was MYR 601,859,000 against MYR 298,569,000 a year ago. For the quarter, the company reported seat capacity of 1,371,526 against 1,211,301 a year ago. Load factor was 75% against 68% a year ago. RPK was 5,032 million against 3,893 million a year ago. ASK was 6,682 million against 5,693 million a year ago. Revenue per ASK was MYR 13.24 against MYR 11.51 a year ago.

AirAsia X CEO Denies Sale

AirAsia X Berhad (KLSE:AAX) chief executive officer Datuk Kamarudin Meranum said the group had no plans to disengage from AirAsia X at the moment even though he concedes that it is an investment that can be monetised. He was confident that the airline would be profitable this year, following stellar financial performances in the fourth quarter of last year and first quarter of this year. Kamarudin made the statement when asked to comment on AirAsia Berhad (KLSE:AIRASIA) chief executive officer Tan Sri Tony Fernandes' comment on Monday that AirAsia X was one of the group's strategic investment businesses and that it would be sold at some point.

AiraAsia X Berhad Announces Re-Designation of Lim Kian Onn as Non-Independent Director

AirAsia X Berhad announced the re-designation of LIM KIAN ONN as non-independent director from the previous position of independent director, effective from May 24, 2016.

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