AirAsia X Berhad, operating as AirAsia X (formerly FlyAsianXpress Sdn. Bhd.), is a

Malaysia Malaysia is a country in Southeast Asia. Featuring the Tanjung Piai, southernmost point of continental Eurasia, it is a federation, federal constitutional monarchy consisting of States and federal territories of Malaysia, 13 states and thre ...

long-haul In aviation, the flight length or flight distance refers to the distance of a flight. Aircraft do not necessarily follow the great-circle distance, but may opt for a longer route due to weather, traffic, to utilise a jet stream, or to refuel. Co ...

low-cost airline A low-cost carrier (LCC) or low-cost airline, also called a budget, or discount carrier or airline, is an airline that is operated with an emphasis on minimizing operating costs. It sacrifices certain traditional airline luxuries for cheaper fa ...

and a subsidiary of the AirAsia Group. The airline was initially established in 2006 as FlyAsian Express (FAX) and began by operating regional routes under Malaysia’s Rural Air Service. After encountering operational challenges, FAX transitioned to a long-haul, low-cost carrier model and rebranded as AirAsia X in 2007. It launched its first

international flight An international flight is a form of commercial flight within civil aviation where the Takeoff, departure and the arrival take place in different Country, countries. Regular international passenger air service began in August 1919 with a flight ...

in November 2007, connecting

Kuala Lumpur Kuala Lumpur (KL), officially the Federal Territory of Kuala Lumpur, is the capital city and a Federal Territories of Malaysia, federal territory of Malaysia. It is the largest city in the country, covering an area of with a census population ...

to Gold Coast,

Australia Australia, officially the Commonwealth of Australia, is a country comprising mainland Australia, the mainland of the Australia (continent), Australian continent, the island of Tasmania and list of islands of Australia, numerous smaller isl ...

. AirAsia X expanded its network over the following years, establishing routes to various destinations across Australia,

Europe Europe is a continent located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere. It is bordered by the Arctic Ocean to the north, the Atlantic Ocean to the west, the Mediterranean Sea to the south, and Asia to the east ...

and

Asia Asia ( , ) is the largest continent in the world by both land area and population. It covers an area of more than 44 million square kilometres, about 30% of Earth's total land area and 8% of Earth's total surface area. The continent, which ...

. Despite challenges such as fluctuating fuel prices and increased competition, the airline focused on strategic growth through fleet expansion and operational improvements. In 2013, AirAsia X went public with an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

(IPO) on the

Bursa Malaysia Bursa Malaysia (English: Malaysian Bourses or Malaysia Exchange) is the stock exchange in Malaysia. It is one of the largest bourses in ASEAN. It is based in Kuala Lumpur and was previously known as the Kuala Lumpur Stock Exchange (KLSE). It p ...

stock exchange. The

COVID-19 pandemic The COVID-19 pandemic (also known as the coronavirus pandemic and COVID pandemic), caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), began with an disease outbreak, outbreak of COVID-19 in Wuhan, China, in December ...

in 2020 led to a suspension of operations and the airline underwent a debt restructuring process. By 2022, AirAsia X had repositioned itself for recovery and by 2023, it experienced growth, particularly in passenger numbers and route expansion. In 2024, the airline continued its recovery with a focus on international expansion, including launching flights

Nairobi Nairobi is the Capital city, capital and largest city of Kenya. The city lies in the south-central part of Kenya, at an elevation of . The name is derived from the Maasai language, Maasai phrase , which translates to 'place of cool waters', a ...

Kenya Kenya, officially the Republic of Kenya, is a country located in East Africa. With an estimated population of more than 52.4 million as of mid-2024, Kenya is the 27th-most-populous country in the world and the 7th most populous in Africa. ...

and

Almaty Almaty, formerly Alma-Ata, is the List of most populous cities in Kazakhstan, largest city in Kazakhstan, with a population exceeding two million residents within its metropolitan area. Located in the foothills of the Trans-Ili Alatau mountains ...

Kazakhstan Kazakhstan, officially the Republic of Kazakhstan, is a landlocked country primarily in Central Asia, with a European Kazakhstan, small portion in Eastern Europe. It borders Russia to the Kazakhstan–Russia border, north and west, China to th ...

, marking its entry into the

Africa Africa is the world's second-largest and second-most populous continent after Asia. At about 30.3 million km2 (11.7 million square miles) including adjacent islands, it covers 20% of Earth's land area and 6% of its total surfac ...

n and

Central Asia Central Asia is a region of Asia consisting of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. The countries as a group are also colloquially referred to as the "-stans" as all have names ending with the Persian language, Pers ...

n markets. In 2024, AirAsia X and AirAsia announced plans to merge under a single unified brand, AirAsia Group. This strategic move aims to streamline operations, improve efficiency and strengthen the airline's competitive position in the global market.

History

FlyAsianXpress

2006-2007: Early Operations and Strategic Realignment

AirAsia X traces its origins to FlyAsianExpress (FAX), a

regional airline A regional airline is a general classification of airline which typically operates scheduled passenger air service, using regional aircraft, between communities lacking sufficient demand or infrastructure to attract mainline flights. In North ...

established in 2006 as a subsidiary of AirAsia. The airline was tasked with operating Malaysia's Rural Air Service routes (RAS), focusing on providing affordable air travel to underserved areas, particularly in Malaysian Borneo. This initiative aimed to enhance regional connectivity and align with AirAsia's mission of making air travel accessible to everyone. Despite its ambitions, FAX encountered operational difficulties, such as low passenger demand on certain routes, maintenance issues and occasional flight cancellations. These issues affected the airline’s ability to maintain consistent service and raised concerns about its sustainability. By early 2007, the mounting challenges prompted calls for a more experienced operator to take over the RAS routes. On April 11, 2007,

Tony Fernandes Malay titles#Tan Sri, Tan Sri Anthony Francis Fernandes (born 30 April 1964) is a Malaysian Entrepreneurship, entrepreneur. He is the founder of Tune Air Sendirian Berhad, Sdn. Bhd., which took over the first Malaysian Low-cost carrier, budge ...

, CEO of AirAsia, proposed transferring the operations to

Firefly The Lampyridae are a family of elateroid beetles with more than 2,000 described species, many of which are light-emitting. They are soft-bodied beetles commonly called fireflies, lightning bugs, or glowworms for their conspicuous production ...

, a subsidiary of

Malaysia Airlines Malaysia Airlines ( Malay: ''Penerbangan Malaysia'') is the flag carrier of Malaysia, headquartered at Kuala Lumpur International Airport. The airline flies to destinations across Europe, Oceania and Asia from its main hub at Kuala Lumpur Int ...

with greater expertise in turboprop services. After receiving government approval, the transfer was completed on April 26, 2007, ending FAX's involvement in the RAS network. The RAS flights in Malaysian Borneo were subsequently managed by a newly created airline, MASwings, owned by Malaysia Airlines.

AirAsia X

2007: The Launch and Rebranding of AirAsia X

The airline shifted its focus to

, low-cost operations in 2007, marking a significant turning point. This transition led to its rebranding as AirAsia X in September of the same year. The name "AirAsia X" was inspired by Yoshiki, the leader of the

Japan Japan is an island country in East Asia. Located in the Pacific Ocean off the northeast coast of the Asia, Asian mainland, it is bordered on the west by the Sea of Japan and extends from the Sea of Okhotsk in the north to the East China Sea ...

ese rock band

X Japan is a Japanese Rock music, rock band from Chiba Prefecture, Chiba, formed in 1982 by drummer and pianist Yoshiki (musician), Yoshiki and lead vocalist Toshi (musician), Toshi. Starting as a predominantly power metal, power/speed metal band with ...

, as revealed by

. To support its launch, Richard Branson's

Virgin Group Virgin Group Ltd is a British multinational venture capital conglomerate founded by Richard Branson and Nik Powell in February 1970. Virgin Group's date of incorporation is listed as 1989 by Companies House, who class it as a holding compa ...

acquired a 20% stake in AirAsia X to finance aircraft purchases and operations. Branson also highlighted opportunities for collaboration with Virgin Blue, including codeshare agreements and loyalty programs, to improve connectivity and passenger benefits. On September 15, 2007, the airline took delivery of its first aircraft at

Kuala Lumpur International Airport Kuala Lumpur International Airport is the main international airport serving Kuala Lumpur, the capital of Malaysia. It is located in the Sepang District of Selangor, approximately south of downtown Kuala Lumpur and serves the Greater Kuala L ...

. The aircraft was named ''"Semangat Sir Freddie"'' ("Spirit of Sir Freddie") in tribute to Sir Freddie Laker, a pioneer of low-cost aviation and founder of the Skytrain service. The airline's inaugural long-haul flight departed from

Gold Coast Airport Gold Coast Airport (formerly known as Coolangatta Airport; ) is a Domestic airport, domestic and International airport, international Australian airport located at the southern end of the Gold Coast, Queensland, Gold Coast and approximately ...

in Australia on November 2, 2007, offering promotional fares as low as MYR 50 (USD 17). This flight marked a significant milestone in the airline's expansion into international markets.

2008-2009: Long-Haul Expansions to Australia, China and Europe

Following its rebranding, AirAsia X rapidly expanded its network, starting with destinations in Australia, including

Melbourne Melbourne ( , ; Boonwurrung language, Boonwurrung/ or ) is the List of Australian capital cities, capital and List of cities in Australia by population, most populous city of the States and territories of Australia, Australian state of Victori ...

and

Perth Perth () is the list of Australian capital cities, capital city of Western Australia. It is the list of cities in Australia by population, fourth-most-populous city in Australia, with a population of over 2.3 million within Greater Perth . The ...

, as well as

Hangzhou Hangzhou, , Standard Mandarin pronunciation: ; formerly romanized as Hangchow is a sub-provincial city in East China and the capital of Zhejiang province. With a population of 13 million, the municipality comprises ten districts, two counti ...

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

. To maintain its cost-effective model, the airline avoided high-cost airports like

Sydney Sydney is the capital city of the States and territories of Australia, state of New South Wales and the List of cities in Australia by population, most populous city in Australia. Located on Australia's east coast, the metropolis surrounds Syd ...

, focusing instead on more economical hubs to enhance operational efficiency and sustain competitive pricing. In 2009, AirAsia X expanded its operations to

with the launch of direct flights from Kuala Lumpur to London-Stansted, marking its entry into the intercontinental market, later shifting the service to London-Gatwick in 2011. The airline expanded further in 2010 by adding Paris-Orly Airport to its network. This growth made AirAsia X the first budget carrier to serve the Kangaroo Route, connecting long-haul travel between

Southeast Asia Southeast Asia is the geographical United Nations geoscheme for Asia#South-eastern Asia, southeastern region of Asia, consisting of the regions that are situated south of China, east of the Indian subcontinent, and northwest of the Mainland Au ...

and

2010-2012: Balancing Growth and Sustainability

After experiencing early success, AirAsia X faced significant challenges starting in 2010. Rising fuel costs and intensified competition in the long-haul sector pressured the airline’s profitability and cost management. In response, the airline reassessed its network, focusing on optimizing its routes and operations. This period marked the beginning of various adjustments aimed at maintaining its low-cost business model. By 2012, AirAsia X had to withdraw from several unprofitable routes, such as

Delhi Delhi, officially the National Capital Territory (NCT) of Delhi, is a city and a union territory of India containing New Delhi, the capital of India. Straddling the Yamuna river, but spread chiefly to the west, or beyond its Bank (geography ...

Mumbai Mumbai ( ; ), also known as Bombay ( ; its official name until 1995), is the capital city of the Indian state of Maharashtra. Mumbai is the financial capital and the most populous city proper of India with an estimated population of 12 ...

Paris Paris () is the Capital city, capital and List of communes in France with over 20,000 inhabitants, largest city of France. With an estimated population of 2,048,472 residents in January 2025 in an area of more than , Paris is the List of ci ...

and

London London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...

, citing high operational costs and insufficient demand. Despite these setbacks, the airline continued to seek new growth opportunities, launching flights to Sydney in April and Beijing in June. However, it had to suspend services to

Tianjin Tianjin is a direct-administered municipality in North China, northern China on the shore of the Bohai Sea. It is one of the National Central City, nine national central cities, with a total population of 13,866,009 inhabitants at the time of the ...

and

Tehran Tehran (; , ''Tehrân'') is the capital and largest city of Iran. It is the capital of Tehran province, and the administrative center for Tehran County and its Central District (Tehran County), Central District. With a population of around 9. ...

due to economic and operational challenges. This phase of trial and error highlighted AirAsia X’s ongoing efforts to balance expansion with long-term sustainability in a highly competitive market.

2013-2018: Strengthening Operations and Expanding Global Footprint

Airbus A330 AirAsia X 9M-XXA Taipei November 2011

AirAsia X made a significant move in 2013 by launching an

(IPO) on the

stock exchange A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for ...

, raising MYR 988 million (USD 310 million). These funds were allocated towards expanding its fleet and enhancing operations, supporting the airline’s long-term growth plans. That same year, the airline intensified its focus on the Asia-Pacific region, capitalizing on the increasing demand for affordable travel within the area. Fleet expansion became a key priority, with AirAsia X acquiring more

Airbus A330 The Airbus A330 is a wide-body airliner developed and produced by Airbus. Airbus began developing larger A300 derivatives in the mid–1970s, giving rise to the A330 twinjet as well as the Airbus A340 quadjet, and launched both designs along ...

aircraft to strengthen its long-haul network. By 2015, the airline had introduced new destinations, including

Sapporo is a Cities designated by government ordinance of Japan, designated city in Hokkaido, Japan. Located in the southwest of Hokkaido, it lies within the alluvial fan of the Toyohira River, a tributary of the Ishikari River. Sapporo is the capital ...

, further extending its global reach. Despite these successes, fluctuating fuel prices and heightened competition presented ongoing challenges, requiring continual adjustments to its strategies. In response to growing demand, the airline increased frequencies on popular routes and, by 2016, placed greater emphasis on operational efficiency. This included optimizing schedules, reducing costs, and improving load factors. The introduction of new technology solutions also helped streamline operations and enhance customer engagement. The expansion continued into 2017, with AirAsia X launching flights to

Honolulu Honolulu ( ; ) is the List of capitals in the United States, capital and most populous city of the U.S. state of Hawaii, located in the Pacific Ocean. It is the county seat of the Consolidated city-county, consolidated City and County of Honol ...

Hawaii Hawaii ( ; ) is an island U.S. state, state of the United States, in the Pacific Ocean about southwest of the U.S. mainland. One of the two Non-contiguous United States, non-contiguous U.S. states (along with Alaska), it is the only sta ...

, in June and Jeju,

South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia. It constitutes the southern half of the Korea, Korean Peninsula and borders North Korea along the Korean Demilitarized Zone, with the Yellow Sea to the west and t ...

, in December. In 2018, the airline moved its Melbourne operations to

Avalon Airport Avalon Airport is a domestic airport, located in Avalon in the City of Greater Geelong in Victoria, Australia. While located outside the Melbourne metropolitan area, it is the second busiest of the four airports serving the state capital i ...

to reduce costs while maintaining service quality. 2019, the airline had added several new international routes from Kuala Lumpur, including services to

Fukuoka is the List of Japanese cities by population, sixth-largest city in Japan and the capital city of Fukuoka Prefecture, Japan. The city is built along the shores of Hakata Bay, and has been a center of international commerce since ancient times. ...

Lanzhou Lanzhou is the capital and largest city of Gansu province in northwestern China. Located on the banks of the Yellow River, it is a key regional transportation hub, connecting areas further west by rail to the eastern half of the country. His ...

Taipei , nickname = The City of Azaleas , image_map = , map_caption = , pushpin_map = Taiwan#Asia#Pacific Ocean#Earth , coordinates = , subdivision_type = Country ...

Osaka is a Cities designated by government ordinance of Japan, designated city in the Kansai region of Honshu in Japan. It is the capital of and most populous city in Osaka Prefecture, and the List of cities in Japan, third-most populous city in J ...

, Tokyo ( Narita) and

Singapore Singapore, officially the Republic of Singapore, is an island country and city-state in Southeast Asia. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet. It is about one degree ...

2020-2022: Navigating the Pandemic and Operational Recovery

The

in 2020 caused major disruptions to global travel, forcing AirAsia X to suspend its operations in March. The halt in services resulted in significant financial strain, leading the airline to begin a

debt restructuring Debt restructuring is a process that allows a private or public company or a sovereign entity facing cash flow problems and financial distress to reduce and renegotiate its delinquent debts to improve or restore liquidity so that it can continu ...

process in October 2020. In 2021, AirAsia X entered a hibernation phase, conserving its resources while preparing for a phased recovery. During this period, the airline worked on revamping its business model to ensure long-term sustainability in the post-pandemic landscape. By March 2022, AirAsia X successfully completed its debt restructuring with court approval. The airline then began to gradually resume services, prioritizing profitable routes such as

Seoul Seoul, officially Seoul Special Metropolitan City, is the capital city, capital and largest city of South Korea. The broader Seoul Metropolitan Area, encompassing Seoul, Gyeonggi Province and Incheon, emerged as the world's List of cities b ...

and

, starting in April. This restructuring allowed AirAsia X to streamline its operations and reposition itself strategically for recovery in the evolving travel market.

2023–Present: Rebuilding and the Path to Unification

AirAsia X’s recovery efforts gained momentum in 2023, with the airline carrying over 2.8 million passengers, a remarkable 6.8-fold increase compared to the previous year. The airline achieved a

passenger load factor Passenger load factor, or load factor, measures the capacity utilization of public transport services like airlines, passenger railways, and intercity bus services. It is generally used to assess how efficiently a transport provider fills seats ...

(PLF) of 80%, driven by increased frequencies on key routes such as

and

. In Q4 2023, AirAsia X saw a 2.6-fold year-on-year growth, carrying 890,289 passengers and achieving a PLF of 82%. The airline continued its recovery trajectory by expanding its global reach, launching its first flight to

in November 2024, marking its entry into the African market. Additionally, it introduced flights to

, reflecting a strategic focus on exploring underserved regions. As of 2024, the airline operates 22 destinations from

as part of its continued recovery and growth strategy. In December 2024,

, the CEO of Capital A, confirmed that AirAsia X and AirAsia would merge under a single unified brand, AirAsia Group. This strategic initiative aimed to simplify the airline's operational structure and consolidate its market presence. By uniting the

and short-haul operations under one brand, the airline group sought to enhance efficiency and strengthen its position within the aviation industry.

Destinations

, AirAsia X flies (or has flown) operated to the following destinations:

Fleet

Current fleet

, AirAsia X operates the following aircraft:

Former fleet

AirAsia formerly operated the following aircraft:

Fleet development

In 2009, AirAsia X placed an order for 10

Airbus A350-900 The Airbus A350 is a flight length, long-range, wide-body twin-engine airliner developed and produced by Airbus. The initial A350 design proposed in 2004, in response to the Boeing 787 Dreamliner, would have been a development of the Airbu ...

aircraft but canceled the order in April 2018 due to rising prices. During a business forum in

Manila Manila, officially the City of Manila, is the Capital of the Philippines, capital and second-most populous city of the Philippines after Quezon City, with a population of 1,846,513 people in 2020. Located on the eastern shore of Manila Bay on ...

in February 2018,

revealed that the airline was considering the

Boeing 787 Dreamliner The Boeing 787 Dreamliner is an American wide-body airliner developed and manufactured by Boeing Commercial Airplanes. After dropping its unconventional Sonic Cruiser project, Boeing announced the conventional 7E7 on January 29, 2003, wh ...

for fleet expansion. However, a month later, the decision was made not to pursue the Boeing aircraft. By September 2018, reports indicated that AirAsia X was exploring the use of

Airbus A321neo The Airbus A321neo is a Single-aisle aircraft, single-aisle airliner created by Airbus. The A321neo (''neo'' being an acronym for "new engine option") is developed from the Airbus A321 and Airbus A320neo family. It is the longest stretched fusela ...

and A321LR aircraft alongside its

fleet. The airline believed that using

narrow-body aircraft A narrow-body aircraft or single-aisle aircraft is an airliner arranged along a single aisle, permitting up to 6-abreast seating in a cabin less than in width. In contrast, a wide-body aircraft is a larger airliner usually configured with m ...

on shorter routes, with a maximum flight time of 7.9 hours, could result in cost savings of up to 16% on variable costs and 5% on fixed costs. In March 2020, AirAsia X announced that the delivery of its

Airbus A330-900 The Airbus A330neo ("neo" for "Re-engine, New Engine Option") is a wide-body airliner developed by Airbus from the original Airbus A330 (now A330''ceo'' – "Current Engine Option"). A new version with modern engines comparable with those devel ...

aircraft would be delayed indefinitely. This decision was made in response to the disruptions caused by the

. However, by June 2022, the airline confirmed its commitment to receiving Airbus A330neos and A321XLRs, with deliveries expected to begin in 2026, as it gradually resumed operations after a two-year hiatus.

Corporate affairs

Headquarters and Corporate Office

The head office and registered office of AirAsia X are currently located at the RedQ facility at

Terminal 2 in Sepang, Selangor. The airline's previous head office was at the LCC Terminal at KLIA, while its registered office was situated on Level 12 of Menara Prima Tower B in Petaling Jaya, Selangor. AirAsia X had planned to relocate to a new facility at klia2, which was completed to house around 2,000 AirAsia and AirAsia X employees. The new headquarters, known as "RedQuarters" or "RedQ," was named by

Filipina Filipinos () are citizens or people identified with the country of the Philippines. Filipinos come from various Austronesian peoples, all typically speaking Filipino, English, or other Philippine languages. Despite formerly being subject to ...

flight attendant A flight attendant is a member of the aircrew whose primary responsibility is ensure the safety of passengers in the cabin of an aircraft across all stages of flight. Their secondary duty is to see to the comfort of passengers. Flight attenda ...

January Ann Baysa, and its groundbreaking ceremony took place in November 2014.RedQuarters set to become AirAsia's global HQ by 2016

Archive
. '' The Star''. 15 November 2014. Retrieved on 2 September 2015.

Cost Structure and Operational Efficiency

AirAsia X operates with one of the lowest costs among long-haul airlines globally, with a Cost per Available Seat-Kilometre (CASK) of US$0.0351 in 2015, or US$0.0240 excluding fuel costs. This enables the airline to offer fares 30 to 50% lower than traditional long-haul carriers. The airline also collaborates with its affiliate, AirAsia, to streamline operations, such as staff management, fuel hedging, marketing and computer systems, benefiting from economies of scale typically unavailable to smaller airlines.

Shareholders

The entry of two major investors provided AirAsia X with crucial financial support for its future expansion plans. This investment was aimed at assisting the airline's growth and development. As of 14 February 2008, Aero Ventures, a venture involving

, other prominent Malaysians and Air Canada's Robert Milton, owned 48% of AirAsia X.

held a 16% stake, while AirAsia owned an additional 16%.

Bahrain Bahrain, officially the Kingdom of Bahrain, is an island country in West Asia. Situated on the Persian Gulf, it comprises a small archipelago of 50 natural islands and an additional 33 artificial islands, centered on Bahrain Island, which mak ...

-based Manara Consortium and Japan's Orix Corp acquired a combined 20% stake in AirAsia X for RM250 million. AirAsia X was listed on

(Kuala Lumpur Stock Exchange) on 10 July 2013, with shares offered to both individual and institutional investors at MYR1.25 (approximately US$0.39) per share. The listing raised MYR988 million (US$310 million at 2013 exchange rates) and valued the company at MYR3 billion (US$940 million). The shares performed poorly on their first day, closing unchanged and recording what

Bloomberg Bloomberg may refer to: People * Daniel J. Bloomberg (1905–1984), audio engineer * Georgina Bloomberg (born 1983), professional equestrian * Michael Bloomberg (born 1942), American businessman and founder of Bloomberg L.P.; politician a ...

described as the "second-worst trading debut in Malaysia" that year. As of 10 October 2016, shares were priced at MYR0.39, giving the company a market value of MYR1.62 billion (US$390 million at 2016 exchange rates). As of 10 October 2016, shares of AirAsia X Berhad were trading at MYR0.39, giving the company a market value of MYR1.62 billion (US$390 million at 2016 exchange rates). According to data from Bloomberg cited by

The Edge David Howell Evans (born 8 August 1961), better known as the Edge or simply Edge,McCormick (2006), pp. 21, 23–24 is a British-Irish musician, singer, and songwriter. He is best known as the lead guitarist, keyboardist, and backing vocalist o ...

in February 2022, the largest shareholder of AirAsia X Berhad was

Tune Group Tune Group Sdn Bhd (or Tune Group ''Sendirian Berhad'', meaning 'private limited') is a leisure and entertainment corporation founded by the Malaysian entrepreneurs Tony Fernandes and Kamarudin Meranun. It has airline, hotel, telecommunication ...

, a private investment vehicle owned by Tony Fernandes and

Kamarudin Meranun Kamarudin bin Meranun is a Malaysian businessman who is currently the Chairman of AirAsia and CEO of the Tune Group. Early life Kamarudin was born in Malaysia, 1960. He is a Minangkabau descent from Gugukrendah, Agam, West Sumatera. He receiv ...

, holding a 17.8% stake. The two collectively held an indirect stake of 31.59%, with Capital A, the parent company of AirAsia, owning an additional 13.8%.

Affiliate airlines

Indonesia AirAsia X

Indonesia AirAsia X was the medium and long-haul division of

Indonesia AirAsia PT Indonesia AirAsia, operating as Indonesia AirAsia, is an Indonesian low-cost airline based in Tangerang, Banten. It operates scheduled domestic and international services and is an Indonesian associate carrier of the Malaysian AirAsia. Its ...

, operating cost-efficient services with shared ticketing, aircraft livery, and management style. It initially served

medium-haul In aviation, the flight length or flight distance refers to the distance of a flight. Aircraft do not necessarily follow the great-circle distance, but may opt for a longer route due to weather, traffic, to utilise a jet stream, or to refuel. Co ...

routes from

Bali Bali (English:; Balinese language, Balinese: ) is a Provinces of Indonesia, province of Indonesia and the westernmost of the Lesser Sunda Islands. East of Java and west of Lombok, the province includes the island of Bali and a few smaller o ...

and

Tokyo Tokyo, officially the Tokyo Metropolis, is the capital of Japan, capital and List of cities in Japan, most populous city in Japan. With a population of over 14 million in the city proper in 2023, it is List of largest cities, one of the most ...

, and

short-haul In aviation, the flight length or flight distance refers to the distance of a flight. Aircraft do not necessarily follow the great-circle distance, but may opt for a longer route due to weather, traffic, to utilise a jet stream, or to refuel. Co ...

flights from

Jakarta Jakarta (; , Betawi language, Betawi: ''Jakartè''), officially the Special Capital Region of Jakarta (; ''DKI Jakarta'') and formerly known as Batavia, Dutch East Indies, Batavia until 1949, is the capital and largest city of Indonesia and ...

Denpasar Denpasar (; Balinese script, Balinese: ᬤᬾᬦ᭄ᬧᬲᬃ, ''Dénpasar'') is the capital city of the province of Bali, Indonesia. Denpasar is the largest city in the Lesser Sunda Islands and the second largest city in Eastern Indonesia after ...

and

Surabaya Surabaya is the capital city of East Java Provinces of Indonesia, province and the List of Indonesian cities by population, second-largest city in Indonesia, after Jakarta. Located on the northeastern corner of Java island, on the Madura Strai ...

. However, it faced disruptions, including the cancellation of its

route in 2014 due to lack of government approval, and ended its

Taipei , nickname = The City of Azaleas , image_map = , map_caption = , pushpin_map = Taiwan#Asia#Pacific Ocean#Earth , coordinates = , subdivision_type = Country ...

route in September 2015. In late 2018, the airline announced it would cease scheduled operations by January 2019, transitioning to non-scheduled services. It ultimately ceased all operations and was

liquidated Liquidation is the process in accounting by which a company is brought to an end. The assets and property of the business are redistributed. When a firm has been liquidated, it is sometimes referred to as wound-up or dissolved, although di ...

on 17 October 2020 as part of AirAsia's restructuring.

Thai AirAsia X

Thai AirAsia X, a joint venture between AirAsia and Thai entrepreneurs Tassapon Bijleveld and Julpas Krueospon, was established on 18 September 2013, with AirAsia holding a 49% stake. The airline, as the long-haul arm of

Thai AirAsia Thai AirAsia (, ) is a Thai low-cost airline. It is a joint venture of Malaysian AirAsia () and Thailand's Asia Aviation. It serves AirAsia's regularly scheduled domestic and international flights from Bangkok and other cities in Thailand. H ...

, commenced operations in June 2014 with its first flight to

and expanded to other destinations such as

and

. It operates with shared systems, aircraft livery, and management styles, benefiting from cost efficiencies. In December 2016, Thai AirAsia X ended its

Middle East The Middle East (term originally coined in English language) is a geopolitical region encompassing the Arabian Peninsula, the Levant, Turkey, Egypt, Iran, and Iraq. The term came into widespread usage by the United Kingdom and western Eur ...

routes, and in August 2019, it took delivery of its first Airbus A330neo. After facing disruptions due to the

, including a suspension of

domestic flight A domestic flight is a form of commercial flight within civil aviation where the departure and the arrival take place in the same country. Airports serving domestic flights only are known as domestic airports. Domestic flights are generally c ...

s in 2021, the airline announced in 2022 that it would relocate its operations to Suvarnabhumi Airport and filed for bankruptcy, which did not affect its ongoing services.

References

External links

Official website
{{DEFAULTSORT:Airasia X 2007 establishments in Malaysia Low-cost carriers AirAsia Airlines of Malaysia Airlines established in 2007 Malaysian companies established in 2007 Malaysian brands Tune Group Companies listed on Bursa Malaysia Companies based in Sepang