AirAsia X yield and load factor pressures make 2Q2009 the most challenging quarter yet

AirAsia X stated that while 2Q2009 was the most difficult period yet for the low-cost long-haul carrier, with high pressure on yields and load factors. Encouragingly, volumes have picked up again in 3Q2009. [1767 words]

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This report contains the following subheadings:

• Margins are “thin” but unit costs remain low
• Strong revenue growth ahead – ancillaries and cargo a key
• No additional capital required
• Traffic to continue to surge, as network expansion continues
• Core focus currently in the Asia Pacific
• Connectivity key to the low cost long-haul model
• Conclusion: Big expansion agenda

This report contains the following charts and tables:

• AirAsia X financial highlights for three months ended 30-Jun-2009
• AirAsia X: Unit cost trend (US cents / ASK)
• AirAsia Group Strategy
• AirAsia X planned network expansion
• Air Asia and AirAsia X (in red) Route Network: Mar-2009
• AirAsia X sector length breakdown (frequency of city pairs by sector length (km)): Oct-2009