AirAsia officially changes their name to "Capital A"
2022/02/03
【Kuala Lumpur＝Malaysia BIZ Navi】 On January 28, leading low-cost carrier AirAsia Group announced that it has officially changed its name to "Capital A" in line with its business diversification. The group's airline business will continue to use the "AirAsia" brand.
While its core airline business has suffered during the pandemic, AirAsia has invested in a business payment fintech- Big Pay, Teleport- a logistics company, and AirAsia Super App- a delivery and dispatch service, to diversify its revenue sources.
CEO Tony Fernandez said that over the past two years, the airline has built a solid foundation that does not solely rely on airfares during the slowdown of the airline businesses. He notes that domestic travels are currently recovering and that he expects borders to slowly open this year. International travel is expected to recover from the second or third quarter of the year onwards.
AirAsia also announced that it achieved 80% occupancy in the fourth quarter of 2021, the highest since the pandemic. Transport capacity grew to 3.4 million seats, up 70% year-on-year, with an increase of 103% from last year in passenger volume, to 2.7 million or more. The airline's occupancy rate by geography was mainly 80% in Malaysia, 81% in Indonesia, 85% in the Philippines, and 76% in Thailand. In 2021, the group's overall occupancy rate was 74%.
The increase in passenger volume and capacity indicates that airline demand is on a V-shaped recovery trend through 2021. The company expects further growth in the airlines segment following the resumption of Thailand's "Test & Go" quarantine waiver for fully vaccinated passengers on February 1, and the continuation of "Travel Lane for Fully Vaccinated Travelers (VTL)" between Malaysia and Singapore on January 24.
Info Source：Asia Infonet
While its core airline business has suffered during the pandemic, AirAsia has invested in a business payment fintech- Big Pay, Teleport- a logistics company, and AirAsia Super App- a delivery and dispatch service, to diversify its revenue sources.
CEO Tony Fernandez said that over the past two years, the airline has built a solid foundation that does not solely rely on airfares during the slowdown of the airline businesses. He notes that domestic travels are currently recovering and that he expects borders to slowly open this year. International travel is expected to recover from the second or third quarter of the year onwards.
AirAsia also announced that it achieved 80% occupancy in the fourth quarter of 2021, the highest since the pandemic. Transport capacity grew to 3.4 million seats, up 70% year-on-year, with an increase of 103% from last year in passenger volume, to 2.7 million or more. The airline's occupancy rate by geography was mainly 80% in Malaysia, 81% in Indonesia, 85% in the Philippines, and 76% in Thailand. In 2021, the group's overall occupancy rate was 74%.
The increase in passenger volume and capacity indicates that airline demand is on a V-shaped recovery trend through 2021. The company expects further growth in the airlines segment following the resumption of Thailand's "Test & Go" quarantine waiver for fully vaccinated passengers on February 1, and the continuation of "Travel Lane for Fully Vaccinated Travelers (VTL)" between Malaysia and Singapore on January 24.
Info Source：Asia Infonet
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