CAPITAL A FOURTH QUARTER 2024 AND FULL FINANCIAL YEAR 2024 OPERATING RESULTS

Aviation: AirAsia carries 63 million passengers in 2024, with load factor of 89%, signaling strong recovery despite not having full fleet, year-end capacity of 84%

Non-aviation: Strong performance undeterred throughout the year 

ADE: All 14 new hangar lines approved for base maintenance, while over 12,700 line maintenance checks completed

Teleport: 2024 Cargo segment totals 295,926 tonnes, eCommerce segment sees 92% Year-on-Year (“YoY”) rise in parcel volume delivered

AirAsia MOVE: 16% Quarter-on-Quarter (“QoQ”) rise in MAU, AirAsia Flights transactions up 17% QoQ, and hotel bookings up 46%

KUALA LUMPUR, 12 February 2025 - Capital A Berhad (“Capital A”) has announced the operating statistics for its aviation and non-aviation segments for the Fourth Quarter of the Financial Year 2024 (“4Q2024”) and Full Year of the Financial Year 2024 (“FY2024”). 

4Q2024 OPERATING HIGHLIGHTS OF AIRASIA AVIATION GROUP

AirAsia Aviation Group – ("AirAsia" or the "Group") –  wrapped up 2024 with a strong performance, fueled by robust demand and strategic capacity growth. Emerging from the challenges of Covid-19, the Group has successfully recovered 84% of pre-pandemic capacity levels. In 4Q2024, the Group welcomed over 16 million passengers, reflecting a 9% Year-on-Year (“YoY”) increase and maintained a strong 88% load factor as demand caught up with the 10% YoY growth in capacity.  

For the full year, AirAsia carried over 63 million passengers with a load factor of 89%, highlighting strong and sustained demand for its services. Passenger growth surpassed capacity growth by one percentage-point (“ppt”), reinforcing the airline’s ability to meet market needs. The Group’s fleet expansion contributed significantly to its success in 2024 with its active fleet growing to 205 aircraft out of a total of 224 aircraft, with the reactivation of 14 aircraft during the year. The Group inducted ten  aircraft, comprising nine new A321neo and one used A320, during the year while returning two aircraft to lessors, improving operational efficiency and capacity to support growing demand across its network.

As of to-date, AirAsia has sixteen non-active aircraft, with nine expected to enter service in the first quarter of 2025 and the remaining seven aircraft in the second quarter of 2025. With these aircraft now entering service, AirAsia will be able to fully utilise its fleet, reflecting its true capability of the airline and unlocking the potential for maximised revenue generation that was previously unattainable due to idle aircraft.

4Q2024 OPERATING HIGHLIGHTS OF CAPITAL A COMPANIES

ASIA DIGITAL ENGINEERING (“ADE”)

In 4Q2024, ADE completed 22 base maintenance checks, a 10% YoY increase, bringing the total number of checks for the year to 63. These checks were primarily extensive base checks, many of which were deferred until the later stages of AirAsia’s reactivation plan due to their longer completion times. The majority of these deferred checks were completed and recorded in 4Q2024 and expected to positively impact topline revenue due to their higher value. 

Line maintenance checks demonstrated encouraging growth, surpassing 3,000 checks for the quarter, representing an 8% YoY increase. This contributed to a full-year total of over 12,700 line checks, a 17% YoY increase. The growth was driven by increased flight activity and further supported by ADE's expansion into new markets in Cambodia, the Philippines and Indonesia during the year.

TELEPORT 

Teleport closed 4Q2024 on a high, achieving its highest quarterly cargo volume since inception at 85,950 tonnes, a 33% YoY increase. This milestone underscores Teleport’s operational momentum and scalability, driven by improved service levels and growing demand. For FY2024, total cargo volume reached 295,926 tonnes, representing a 44.5% YoY increase. 

Meanwhile, the eCommerce segment continued its impressive growth, delivering 79.9 million parcels in FY2024, a 92% increase compared to 2023. In 4Q2024 alone, 22.7 million parcels were delivered, with daily parcel volumes averaging 247,000, showcasing a 44% YoY growth. 

Through a bold capacity expansion strategy, Teleport unlocked 4X more capacity YoY from key Air Partners, allowing us to better serve long-standing customer needs and growing volume. These robust results demonstrate the growing trust in Teleport's ability to deliver, putting us on a strong footing and momentum to deliver 2 million parcels per day by the end of 2025.

AirAsia MOVE

4Q2024, though still behind 4Q2023, demonstrated a significant step up for AirAsia MOVE comparing to 3Q2024 with 16% QoQ increase in Monthly Active Users (“MAU”s), while number of transactions up by 10% QoQ; driven by continuous improvements of the platform - which saw the MAU on the app improved by 28% QoQ alongside 16% QoQ growth in transactions. 

Of which, AirAsia Flights transactions increased by 17% QoQ. With improved cross sell ability and improved platform experience, Non-AirAsia flights transactions in 4Q2024 saw an exponential increase of 46% QoQ for Stays and 3% growth for non AirAsia flights, showing early green shoots as AirAsia MOVES repositions itself as an OTA. Duty Free transactions grew by 9.5% QoQ and Rides increased completed bookings by 16% QoQ.

Overall, AirAsia MOVE is driving focus on efficiency. The platform has strengthened its unit economics by optimising costs, including headcount and improved marketing efficiency. AirAsia MOVE is entering 2025 on an upward trajectory, leaner in structure and investing part of these savings to strengthen its foundations by investing in Artificial Intelligence (“AI”), early detection, cybersecurity, tech stack upgrades and improved customer experience.

Santan, Bigpay & Abc.

Santan, Bigpay and Abc. have each achieved significant milestones in their respective industries. Santan, AirAsia’s inflight catering business, successfully expanded into the Ready-to-Eat market, recording a 53% YoY surge in unit sales and serving over 19.7 million meals in FY2024, driven by strategic third party partnerships and a more affordable menu. Bigpay, AirAsia’s fintech arm, saw continued user growth, with its card use base expanding to over 1.6 million, fueled by Bigpay Lite and enhancements in remittance services, which now enable direct e-wallet transfers across various countries, providing users with more end-point recipient options. Abc. the brand management company entered AirAsia’s first-ever licensing deal with American Tourister to launch the Funseekers Collection, a branded luggage line, while also developing its IP, AirAsia Buds, for future licensing in lifestyle and entertainment. These strategic moves reflect Capital A’s commitment to diversifying its digital business portfolio, while strengthening its ecosystem.