The fourth quarter’s net loss of 5.19 billion baht, as opposed to the second quarter’s losses of 267 million baht, reduced the net profit for the year. The Kuala Lumpur-based airline AirAsia X reported overall revenue of 3.49 billion baht for the 2022 fiscal year, with fourth-quarter revenue of just 853 million baht. While overcoming the challenges posed by ongoing Covid-19 restrictions and rules that slow down travel, the low-cost airline is renewing its goals to meet the regions with the greatest demand for passengers and cargo.
Fuel costs are a significant issue for airlines, as they now make up 35% of operating expenses, up from a prior maximum of 30%. Additionally, even though oil prices are starting to gradually decline, the aviation industry won’t be significantly impacted for some time. Operating and fuel costs are also impacted by the depreciation of the ringgit (and the baht).
AirAsia X stated at the end of 2020 that they were shifting their fiscal year so that it ended in the middle of the calendar year rather than at the end. The airline just began operating new flights to Korea from New Delhi, the capital of India, and Seoul’s Incheon Airport. While some nations are completely open or almost there, others, including Australia, China, Taiwan, and Japan, still have pandemic limitations in place, with restricted access or difficult and drawn-out visa procedures. There are still some coronavirus limitations in place, even in its home country of Malaysia.
By the end of 2022 or the beginning of 2023, AirAsia X plans to increase service to Australia and Japan in accordance with the relaxation of their Covid restrictions, as well as Dubai, Istanbul in Turkey, Jeddah in Saudi Arabia, New Zealand, and the UK. Amidst a decline in tourism and exorbitant operational costs, many airlines have been struggling to stay afloat. However, AirAsia X declared a profit of 261 billion baht for the fiscal year that ended on June 20, 2022.
AirAsia X will earn 261 billion baht in 2022
More from ThailandMore posts in Thailand »
- Prime Minister Srettha Thavisin’s Rally in Maha Sarakham: A Promise of Renewal Against Debt, Drugs, and Drought
- Prime Minister Srettha Thavisin Unveils Lifeline for Thai Citizens: Debt Relief, Anti-Drug Strategy, and Drought Solutions
- Muay Thai Goes Global: Thailand Welcomes Chinese Tourists with Innovative Non-Ed Visa in Phuket
- Paetongtarn Shinawatra Launches Pheu Thai Party Academy: Shaping Thailand’s Political Future
- Thailand Leads Sustainable Rice Farming Revolution: A Beacon of Hope in Ayutthaya’s Green Fields
- Bangkok’s Shocking Extortion Scheme: Lao Woman and Rogue Officers Exploit Chinese Nationals
- Thanu Wongchinda Advocates for Heat-Safe Education in Bangkok Amid Rising Temperatures
- Defiant Rebels vs. Myanmar Junta: KNLA’s Bold Stand Amid Borderlands Turmoil
- Thailand at a Crossroads: Golden Charter Symbolizes Hope for Democratic Progress Amidst New Constitution Debate
- Wicharn Khuptiphongkun: Pioneering Real Estate Vision to Transform Nakhon Ratchasima’s Political Landscape
- Bangkok Unveiled: Pol Maj Gen Noppasin Exposes Audacious Chinese Businessmen Abduction
- Bangkok’s Dark Tale: Deputy Chief Noppasin Poonsawat Cracks Chinese Abduction Gang
More from TourismMore posts in Tourism »
- How to select a Trustworthy Visa Agency in Thailand
- 🌿 🇹🇭 Cannabis in Thailand: The Fight for Freedom Continues
- Interactive Platform Maps Out Thailand’s Thriving Cannabis Landscape
- The first Phuket Cannabis Cup – March 25th
- eSIMs – The Future of Mobile Connectivity for Traveling to Thailand
- Lunar surge may top 1.8 million traveler at airport
- Thailand will begin collecting 300 THB tourist fee in June.
- Thailand to Offer Free Covid-19 Tests and Vaccines to Visitors: Here’s How!
- After the outbreak, Thailand’s Tourism Authority will organize its first roadshow in China
- Koh Samui ferries get ready to receive returning Chinese visitors
- The first Full Moon Party of the year is held on a Thai island, attracting 20,000 tourists
- Thailand Reverses Decision, No Longer Requires Proof of Covid Vaccination for Foreign Visitors
Be First to Comment