AIRASIA, the aviation division of Capital A Bhd, has reported a significant increase in passenger numbers for the financial year ended December 31, 2024 (FY2024), carrying 63.18 million passengers—an 11 per cent rise from 56.99 million passengers in FY2023.
The airline’s robust performance was driven by a strong demand for air travel and strategic growth in capacity, achieving a high load factor of 89 percent.
The fourth quarter (4Q) of FY2024 also showed impressive results, with AirAsia transporting 16.27 million passengers.
This represented a 9 percent year-on-year (y-o-y) growth compared to 14.88 million passengers in the same quarter of FY2023, while maintaining a solid load factor of 88 percent.
AirAsia noted that it has successfully recovered 84 percent of its pre-pandemic capacity levels, marking a major milestone as it moves beyond the challenges posed by COVID-19.
Key to this success was the airline’s expansion of its fleet. AirAsia’s active fleet grew to 205 aircraft, out of a total of 224, as the company reactivated 14 aircraft throughout the year.
The airline also inducted ten new aircraft, including nine A321neo models and one pre-owned A320. Meanwhile, it returned two aircraft to lessors, enhancing both operational efficiency and capacity to meet growing demand across its extensive network.
In addition to its core aviation operations, AirAsia's various subsidiaries also saw strong growth.
Asia Digital Engineering (ADE), for example, reported a 10 percent increase in base maintenance checks compared to the previous year, completing 22 checks in the final quarter alone.
Over the course of FY2024, ADE performed 63 base maintenance checks and more than 12,700-line maintenance checks, an increase of 17 percent y-o-y. ADE’s expansion into new markets, including Cambodia, the Philippines, and Indonesia, further supported this growth.
AirAsia’s logistics arm, Teleport, also posted strong results, with a total cargo volume of 295,926 tonnes for FY2024.
The e-commerce segment experienced remarkable growth, with 79.9 million parcels delivered throughout the year, marking a 92 percent y-o-y increase. In 4Q 2024 alone, Teleport delivered 22.7 million parcels, averaging 247,000 parcels per day, a 44 percent increase from the previous year.
AirAsia’s inflight catering division, Santan, expanded its reach into the ready-to-eat meal market, serving 19.7 million meals in FY2024. This growth was driven by strategic partnerships and the introduction of a more affordable menu.
Additionally, BigPay, the airline's fintech arm, saw continued growth in its user base, which now exceeds 1.6 million users. The expansion of BigPay Lite and enhanced remittance services, which allow for direct e-wallet transfers across multiple countries, were key factors driving this success.
Overall, AirAsia’s diversified business model and strategic investments in its fleet, infrastructure, and digital services have positioned the company for continued growth, even as it recovers from the impacts of the pandemic.
The strong results across its aviation, logistics, catering, and fintech divisions reflect the company’s resilience and ability to adapt to changing market conditions. – February 12, 2025
