AirAsia X Bhd targets to be profitable again by the fourth quarter of 2014 as it plans to expand its revenue, capacity and passenger volume.
AAX chief executive officer Azran Osman-Rani said on Friday the long-haul low-cost carrier targeted a growth of 40% in revenue, capacity and passenger volume this year.
He said for 2014, the group was focusing on growth to achieve significant earnings in future.
Maybank KE Research, had in a report issued on Friday, estimated a Q1, 2014 core net loss of RM50.1mil (versus a profit of RM44mil in Q1, 2013) due to the impact of lower yields.
The research house said the situation should improve significantly from Q3, 2014 onwards as Malaysia Airlines had effectively reduced capacity on selected international routes due to aircraft redelivery plans.
"This will enable AirAsia X to push for higher yields. Furthermore, many of its routes have become mature and contribute positively to the group," it said.
On AAX's weak Australian operations due to weak yields and higher unit cost, Azran said it was not a geographical issue but an investment issue as the group doubled its capacity there.
"Last year we were only flying once a day to Sydney, Melbourne and Perth but now we are flying twice a day. And we have added new destinations as well," he said.
However, he expected its Australian operations would improve.
On AAX's lacklustre share price, Azran pointed out that other airlines were also experiencing this as well.
AAX share price closed unchanged at 75 sen on Friday. It hit a high of RM1.03 on Jan 6 this year but the share price had fallen since then.
