AirAsia X Berhad ("AirAsia X" or the "Company") is a medium-haul low-cost airline operating primarily in the Asia-Pacific region. Established in 2006 as Fly Asian Express, we started out by servicing the rural areas of East Malaysia with turboprop aircraft before undertaking a comprehensive rebranding in September 2007, followed by the very first AirAsia X flight to the Gold Coast, Australia in November 2007.

AirAsia X embarked on a period of hibernation of its scheduled flight operations at the onset of the COVID-19 pandemic, which lasted between 2020 until 2022. During this period, the Company spared no time for slowdowns; instead, AirAsia X streamlined its operational structure and cleaned up its balance sheet, ensuring that as and when restarting of the airline is possible, the Company would be ready for takeoff.

Since 2022, AirAsia X as a Group has been on a steady course of recovery as it returned to the skies, now servicing scheduled flight operations to Australia (Sydney, Melbourne and Perth), China (Beijing, Hangzhou, Shanghai, Changsha, Chengdu, Chongqing, and Xi'an), India (New Delhi), South Korea (Seoul), Japan (Tokyo, Osaka and Sapporo), Taiwan (Taipei), Indonesia (Bali), Saudi Arabia (Jeddah and Medina), Kazakhstan (Almaty) and Kenya (Nairobi) from two hubs: Kuala Lumpur and Bangkok as of March 2025.

Based on a revitalised business model as we return stronger than before, our unit cost base is healthy, with cost per available seat kilometre ("CASK") of 13.88 sen and CASK (excluding fuel) of 6.46 sen for the year ended 31 December 2024. This enables us to continue offering fares and other services that are targeted, on average, to be 30% - 50% lower than full-service carriers.

Over the past years, we continued to witness the rapid recovery of the international travel segment within the industry, and we are intent on delivering increased value in the coming years. With this in mind, in April 2024, the Company announced its proposal to acquire 100% stake in both AirAsia Aviation Group Limited (which in turn holds stakes in AirAsia Thailand, AirAsia Indonesia, AirAsia Philippines and AirAsia Cambodia) and AirAsia Berhad, in its bid to advance and fortify its growth and expansion ambitions. In October 2024, the Company secured its shareholders' approval of the proposed acquisitions and is now progressing on fulfilling the requisite condition precedents for completion of the exercise.

As of 31 December 2024, we maintain a core fleet of 18 A330-300 aircraft, while our associate Thai AirAsia X Co., Ltd ("AirAsia X Thailand" or "TAAX") maintains a fleet size of eight A330-300 aircraft.