KUALA LUMPUR (Nov 10): Despite "significantly softer" market conditions, AirAsia X Berhad (AAX) said the number of passengers flying the airline had increased by 24% to 843,693 in the third quarter of its 2014 financial year (3QFY14).

"AAX continues to stimulate demand to fill up new capacity injected during 3Q14, by achieving a passenger load factor of above 80%, on the back of 24% year-on-year (“y-o-y”) growth in Available-Seat-KM (“ASK”) to 6,366 million in 3Q14, despite significantly softer market conditions," it said.

It noted that the capacity added were "lower than earlier planned" as aircraft capacity was withdrawn" from previous scheduled services during difficult periods and reassigned to "charters and wet leases in other regions that generated positive margins".

In terms of q-o-q growth, ASK grew by a mere 2% from 6,265 million recorded in 2Q14, primarily contributed by the launch of new a service to Xian, China, on 2 July 2014.

"The intended slower injection of capacity growth from 3Q14 onward is to allow the previously added capacity in 2013 to mature and progress towards profitability," the statement said.

According to AAX, it is still tops for carrying the most passengers from Malaysia to its "core markets in Australia and North Asia".

"The company persistently achieved strong passenger traffic in Revenue-Passenger-KM (“RPK”), from 4,227 million to 5,129 million (+21% y-o-y), where 1.04 million passengers were carried during the quarter as compared to 0.84 million passengers carried same period last year," it said.

As for cargo, there was an on year improvement of 21%. A total of 9771 tonnes cargo was carried this year compared to 8079 tonnes in the same quarter last year. AAX said that there was a 41% load factor for the quarter.

"The company had during the quarter took delivery of 1 A330-300 on operating lease, bringing its total number of A330-300s to 21, 2 A340-300s, and 1 A330-200 (to be returned by end 2014). Its fleet size has now expanded to 24 aircraft from 17, in the same period last year," it added.