In a statement, it said the robust performance aligned with AirAsia’s strategic focus on expanding capacity and rebuilding its network.

“Passenger volume grew 17% y-o-y to 15.4 million, outpacing capacity growth of 15% y-o-y, demonstrating continued strong travel demand across the region,” said the carrier group.

It noted that the growth was largely attributed to the school holidays, Chinese New Year season as well as the resurgence of China and India routes that delivered a robust load factor of 94%, higher than the pre-Covid-19 level due to the visa-free travel corridors of both regions introduced at the end of 2023.

As of the end of March this year, the airline group deployed 167 operational aircraft.

“AirAsia Philippines and Thailand emerged as the group’s top performers, with highest load factors at 93% each, while AirAsia Malaysia and Indonesia followed closely with load factors of 89% and 83%, respectively,” it said.

It said Capital A still owns an 18.39% stake in AAG.

Meanwhile, Capital A’s AirAsia Move, formerly known as airasia Superapp, has maintained a strong user base that exceeded 15 million monthly active users (MAU) in Q1 2024 and recorded a 19% y-o-y growth in MAU.

As for the logistics segment, it said Teleport delivered 63,945 tonnes in Q1 2024, up 79% from Q1 2023, while the utilisation rate rose 5% y-o-y to 16% during the quarter.

Besides that, Asia Digital Engineering completed 82% more base maintenance checks compared to the same period last year, while the inflight service provider, Santan, recorded 5.1 million units sold in Q1 2024, an increase of 13% y-o-y.