Capital A's aviation segment records 90% load factor, 15.4 mln passenger volume in 1Q

Capital A Bhd Monday said the AirAsia Aviation Group (AAG), comprising AirAsia Malaysia, AirAsia Thailand, AirAsia Indonesia, and AirAsia Philippines, delivered improved performance across key metrics, with a system-wide record quarterly load factor of 90% in Q1 2024 (1Q 2024), reflecting one percentage point (ppt) improvement year-on-year. It said the robust performance aligned with AirAsia's strategic focus on expanding capacity and rebuilding its network. "Passenger volume grew 17% y-o-y to 15.4m, outpacing capacity growth of 15% y-o-y, demonstrating continued strong travel demand across the region,” the carrier group said. It noted that the growth was largely attributed to the school holidays, Chinese New Year season as well as the resurgence of China and India routes that delivered a robust load factor of 94%, higher than the pre-COVID level due to the visa-free travel corridors of both regions introduced at the end of 2023. As of the end of March this year, the airline group deployed 167 operational aircraft. "AirAsia Philippines and Thailand emerged as the group's top performers, with highest load factors at 93% each, while AirAsia Malaysia and Indonesia followed closely with load factors of 89% and 83%, respectively,” it said. Capital A still owns an 18.39% stake in AAG.<br/>