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MARCH 2024

Week 10


Capital A books US$176 million profit for calendar 2023

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March 4th 2024

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Capital A, parent company of AirAsia Aviation Group, has reported a net profit of 837 million ringgit (US$176 million) for full-year 2023 compared with a 2.6 billion ringgit net loss in 2022. Read More » It was Capital A's first annual profit since the outbreak of the pandemic. Revenue improved 129.5%, to 14.8 billion ringgit, Malaysia listed Capital A said in a regulatory filing. “Building on 2023 momentum where we surpassed pre-COVID revenue despite operating below fiscal year 2019 capacity, we are enthusiastic about the opportunities ahead,” AirAsia Aviation Group CEO, Bo Lingam, said. “"In 2024, our goal is to recover 90% of 2019 capacity, setting the stage for future growth.” On the broader business, which included MRO services, freighter and logistics operations and digital ventures, Capital A CEO, Tony Fernandes, said: “Emerging from this period stronger and more resilient than ever, we have uncovered hidden gems within our portfolio that have flourished alongside our core airline business.”

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