Bullish AirAsia targets 24 million passengers in 2009

AirAsia remains bullish about its performance in 2009 as passengers increasingly choose LCCs over full service carriers during the economic downturn. The LCC forecasts it will handle 24 million passengers in 2009, and 60 million passengers p/a by 2013, compared to 18.3 million in 2008. The LCC also forecasts a 21% increase in passenger traffic for 2Q2009, matching its rise in passenger traffic in 1Q2009. According to IATA, international passenger traffic (RPKs) in the Asia-Pacific region fell 8.6% year-on-year in Apr-2009. [1059 words]

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This report contains the following subheadings:

• Considering USD143.1 million rights offering
• Expanding services to Singapore and Colombo

This report contains the following charts and tables:

• AirAsia new Singapore services
• Singapore capacity share by carrier (week commencing 08-Jun-09)
• Penang capacity share by carrier (week commencing 08-Jun-09)