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SEPANG, 10 April 2026 – AirAsia X Berhad (“the Group”) has announced its preliminary operating statistics for the First Quarter of 2026 (“1Q2026”). This represents the inaugural consolidated report for the Group following the successful acquisition of the AirAsia aviation assets, bringing together all AirAsia branded airlines under a single listed entity.

The Consolidated Air Operating Certificates (“AOCs”), comprising AirAsia Malaysia, AirAsia Thailand, AirAsia Indonesia, AirAsia Philippines, AirAsia Cambodia, and AirAsia X Malaysia, demonstrated significant operational synergy, carrying approximately 18.9 million passengers during the quarter, up by 9% year-on-year (“YoY”). This performance indicates sustained demand across the network as passenger growth remains aligned with a 10% YoY increase in capacity to 22.1 million seats. The Consolidated AOCs have now recovered capacity to 98% of pre-pandemic levels, with a robust load factor of 85%.

A key driver of the performance was the surge in domestic demand, which saw double-digit YoY growth in both passengers carried and capacity across Malaysia, Thailand, Indonesia and the Philippines. On the international front, the Group’s focus on North Asia maintained solid momentum. Major routes to China from both Malaysia and Thailand performed well, with load factors for these sectors recorded at 85% for the quarter. The Group continues to leverage its dominant position in the China-Asean travel corridor, capturing consistent demand across key primary and secondary cities.

The Group showed remarkable operational agility in March 2026, the first month following the onset of heightened geopolitical tension and increasing jet fuel prices. In March alone, the Consolidated AOCs carried 6.3 million passengers, a 19% YoY increase which surpassed the 15% YoY increase in capacity. This performance was driven by the festive period, where the Group’s commitment to providing the best value to guests allowed it to capture a significant growth in regional travel.

Notably, the load factor for March increased by 2 percentage points YoY to 84%. While the Group had strategically adjusted fares and fuel surcharges to manage escalating fuel costs, AirAsia remained the preferred choice for guests prioritising affordable and reliable connectivity during this peak period. Furthermore, by positioning its network as a critical alternative for redirected global traffic flows between Europe and Asia, the Group captured a surge in demand on its Central Asia corridors, benefitting from a strong “fly-thru” effect across the broader Asean network.

The Group’s associate, AirAsia X Thailand (“TAAX”) carried 599,198 passengers during the quarter, representing a 20% YoY increase. The associate recorded a solid load factor of 84%, reflecting a 1 percentage point improvement YoY. This performance highlights the successful optimisation of the long-haul network following its strategic hub relocation to Don Mueang International Airport in late 2024. Market demand remained sound across key destinations, supported by the expansion of its operating fleet and increased frequencies to North Asia and India.

The Consolidated AOCs increased the operating fleet by 1 YoY to 203 aircraft, and closed the quarter with a fleet of 240 aircraft. TAAX’s fleet size stood at 11.

Bo Lingam, Group CEO of AirAsia X, said: “This first quarter of 2026 validates the strength of our consolidated model. Our RPK growth of 7% surpassed ASK growth of 6%, clearly demonstrating the success of our network optimisation, ensuring capacity is deployed where demand is strongest. In response to external fuel pressures, we moved decisively in March to manage our margins through adjusted fares and fuel surcharges.

Crucially, we have seen no significant signs of demand disruption. Our March load factor actually increased YoY, as our guests prioritised the value and connectivity we provide during the Raya and Lebaran peak. Looking ahead, this momentum has carried into April, with forward bookings remaining firm across our core network. Our priority is to maximise the productivity of our active fleet while keeping our integrated network lean and adaptable. By prioritising high-yield corridors and maintaining disciplined cost management, we are prepared to navigate the uncertainties of the months ahead with resilience and agility.”

First Quarter 2026 Preliminary Operating Statistics

Definition of Terms:

1. Passengers carried represent the number of earned seats flown. Earned seats comprise seats sold to passengers (including no-shows) and seats provided for promotional purposes

2. Capacity measures the number of seats flown

3. Load factor is calculated as Passengers Carried divided by Capacity

4. Available Seat Kilometres (ASK) measures an airline’s passenger capacity. Total seats flown multiplied by the number of kilometres flown

5. Revenue Passenger Kilometres (RPK) is a measure of the volume of passengers carried by the airline. Number of passengers multiplied by the number of kilometres these passengers have flown

6. Number of stages is equivalent to number of flights flown

7. The number of total aircraft is at quarter end

8. The number of operational aircraft at quarter end excludes operational and maintenance spares

Photo Caption: (L-R) Benyamin Ismail, General Manager of AirAsia X; Dato’ Captain Fareh Mazputra, General Manager of AirAsia Malaysia; Amanda Woo, Chief Commercial Officer of AirAsia X; Bo Lingam, Group CEO of AirAsia X; Tan Sri Tony Fernandes, Co-Founder and Advisor to AirAsia X; Tan Sri Jamaludin Ibrahim, Independent Non-Executive Chairman of AirAsia X; Datuk Kamarudin Meranun, Co-Founder, Non-Independent Executive Director of AirAsia X; Farouk Kamal, Deputy Group CEO of AirAsia X;  Ms Chin Min Ming, Independent Non-Executive Director of AirAsia X; Low Kar Chuan, Chief Financial Officer of AirAsia X and Captain Suresh Bangah, Group Chief Operations Officer of AirAsia X at the media briefing press conference today.

SEPANG, 6 April 2026 –  – AirAsia X (“the Group”) today formally welcomed Tan Sri Jamaludin as the Independent Non-Executive Chairman, as the Group outlined its strategy for navigating rising fuel costs and growing uncertainty across global aviation markets. Under Tan Sri Jamaludin’s leadership, the Board brings the independent oversight and long-term perspective critical to the Group as it enters a period of renewed focus and growth.

Despite the increasingly complex operating environment, the Group remains confident in its resilient business model, strong Asean network and the region’s long-term growth. It continues to see solid travel demand and remains committed to strengthening Kuala Lumpur as its main hub for seamless, affordable regional connectivity.

AirAsia X also reaffirms its commitment to developing Bahrain as a key strategic hub, connecting travellers between Asia, the Middle East and Europe. The service is scheduled to commence on 26 June 2026, with optimism that the conditions in the region will normalise by then. In the meantime, the Group has proactively reallocated capacity towards stronger-performing and higher-yielding routes, such as Almaty (Kazakhstan), Tashkent (Uzbekistan) and Istanbul (Türkiye), to capture displaced demand, whilst also exploring opportunities to further develop our key domestic hub in Senai, Johor Bahru.

Tan Sri Jamaludin Ibrahim, Independent Non-Executive Chairman of AirAsia X said: “I’m excited to be joining AirAsia X, especially after the recent consolidation of all the seven airlines, short haul and medium haul, into one large cohesive group.  While we are experiencing a period of global uncertainty, we are entering this phase from a position of strength. The Group’s fundamentals are solid, supported by a lean and disciplined cost structure, a resilient Asean-focused network and robust Fly-Thru connectivity that allows us to respond quickly to market changes.

“I look forward to working closely with my fellow Board members, Bo and the AirAsia X management team to ensure operational agility and sound governance, as we continue to build on the strong foundation that has been laid. The current challenges extend beyond the airlines as it involves all players in the aviation ecosystem, but it provides an opportune time for us to work closely with our partners to strengthen the competitiveness of the industry, and to emerge from this period better positioned for long-term growth. We continue to explore the possibilities of expanding our aircraft orderbook and additional leased aircraft, which will support our expansion plans and strengthen our ability to serve even more destinations.”

Tony Fernandes, Advisor to AirAsia X added: “Tan Sri Jamaludin’s distinguished leadership and deep governance expertise are pivotal to AirAsia X as the unified airline group embarks on a new chapter. His leadership brings the governance depth and independent oversight that our Board upholds, complementing the strength of our management team. I have full confidence that under his chairmanship, AirAsia X will continue to perform and deliver better value and reliability to our guests, partners and investors.

“At the same time, the strength of Capital A ecosystem continues to provide its resilience to aviation – removing costs while driving higher revenue, where AirAsia MOVE has redoubled its sales and connectivity efforts, ADE continues to optimise and reduce the cost base, and AirAsia Next leverages its strong tech capabilities and extensive database to maximise aviation sales.”

Bo Lingam, Group CEO of AirAsia X said: “While we are operating in an increasingly challenging environment, we are seeing strong demand across our Asean destinations, which demonstrates the resilience of our network and the growing appetite for regional travel. This reinforces our focus on Kuala Lumpur as a key aviation hub and its position as a global low-cost carrier (LCC) megahub, connecting travellers seamlessly and affordably across the region.

“Amid ongoing geopolitical uncertainty and supply chain disruptions, global jet fuel prices have surged to more than double 2025 levels. In response, we have implemented carefully calibrated fare adjustments, including a one-off fuel surcharge across the network. We are optimising our network, reallocating capacity to stronger-performing routes and leveraging our Fly-Thru connectivity via Kuala Lumpur and Bangkok to capture demand efficiently.

“We are also actively negotiating with our key partners and stakeholders to contain costs across our operations. As we progressively reactivate our full fleet, our unit cost will improve, and the strengthening Asean currencies also act as a natural buffer against USD-denominated expenses.”