KUALA LUMPUR: There was strong buying interest in AirAsia X Bhd
's (AAX) trading stock at the sound of the opening bell as investors took heart at the budget carrier's third-quarter operating statistics.
At 10.20am, the share was trading at an intra-morning high of RM1.94 with 4.11 million units exchanging hands.
AAX announced yesterday that its passenger load factor (PLF) stood at 80%, up seven percentage points year-on-year as capacity surged over nine times to 1.01 million seats in the third quarter of 2023.
The performance came on the back of a 10 times y-o-y increase in the number of passengers, as over 807,000 passengers were carried in 3Q 2023 compared to nearly 80,500 passengers in the same period last year.
"Available seats per kilometre (ASK) surged close to 12 times higher y-o-y at 4.4 billion, bolstered by the increase in seat capacity and the continued recovery of the company’s network.
"AAX’s seat capacity grew by 24% quarter-on-quarter (q-o-q) while ASK capacity rose by 26 per cent as the number of serviceable aircraft increased by three aircraft q-o-q in 3Q 2023,” it said in a statement.
The share price of the carrier was driven lower in recent days following its failure to secure an exit from Practice Note 17 status.
On Oct 20, 2023, AAX said Bursa Securities had rejected its application for the proposed relief PN17 upliftment.
The local bourse granted the company an extension of time until Jan 17, 2024, to submit its regularisation plan to the regulatory authorities.
"“In this regard, the company will consider all available options (including the possibility of an appeal) and announce the next course of action to be undertaken in due course,” said AAX.
