award winning HAVING products World's Best Low-Cost Airline THE BEST PREMIUM CABIN and PREMIUM SEAT by Skytrax widest network in the region covering over 200 destinations with airasia group

ASIA'S LEADING CABIN CREW by world travel awards 2015 HAVING THE BEST

What makes AirAsia X special, and gives us that ‘X factor’ is… our people. As a genuinely people-driven airline, we have always placed the highest priority on nurturing and growing the best people who, to us, are not just employees but Allstars.

Together, we strive continuously to enhance our service and as a result we have created new benchmarks for the industry. Our Premium Flatbeds and cabin – which have been voted by travellers as being the world’s best in the low-cost carriers (LCCs) category for 3 consecutive years – are fine examples of this. We go the extra mile to ensure our guest have a memorable experience flying with us. No request is too great for our Allstars, who derive genuine pleasure in ensuring each AirAsia X journey leaves positive and lasting memories.

In 2015, our cabin crew was named the best in Asia by World Travel Awards along with AirAsia, recognising their hard work and passion throughout the years. We would like to thank our fantastic Allstars for this win and once again, you’ve proven that you’re No.1 and we feel incredibly blessed to have you. Thank you! AIRASIA X CREW AROUND THE WORLD AIRCRAFT HIGH AIRCRAFT UTILISATION & CONFIGURATION OPERATIONAL EXCELLENCE High seat density - 377 seats per aircraft, Aircraft utilisation rate of 15 hours per day 12% more than manufacturer’s configuration Maximising aircraft utilisation with lower turnaround 12 Premium Class Flatbeds & time (60-75 minutes) and achieving on-time 365 Economy Class Seats on all aircraft performance of 85%

YOUNG & EFFICIENT FLEET PEOPLE (ALLSTARS) No UNIONs An average fleet age of not more than 5 years High productivity - Multi-task & interchangeable roles Single fleet range & aircraft manufacturer Flat management structure with hands-on senior Aircraft can be interchanged management team

INNOVATIVE LOW DISTRIBUTION COST FUEL MANAGEMENT 85% sales via internet LOWER AIRCRAFT WEIGHT: Manage in-flight and meal inventory No heavy wiring for in-flight entertainment equipment Statistical potable water uplift Paperless cockpit (in progress) ECONOMIES OF SCALE PROVIDES

FLIGHT OPERATIONS OPTIMISATION: GOOD COST SAVINGS Fuel efficient speeds Strong bargaining power with vendors, suppliers, airport authorities and Fuel tankering aircraft manufacturer for attractive pricing Pilot flying techniques and monitoring Manpower merged with AirAsia Group, effectively reducing overhead costs Leverage on AirAsia brand, technology infrastructure and network Since Fuel contracts negotiated together with AirAsia Group 2007 for better price turnaround initiatives

SNAPSHOT OF CHALLENGES WE FACED FROM LATE 2013 - 2015

USD:MYR USD:MYR USD:MYR USD:MYR USD:MYR @ 3.49 @ 3.71 @ 3.77 @ 4.45 @ 4.29 IATA NEPAL EARTHQUAKE - SLOW RECOVERY D7

MERS IN KOREA

TURNAROUND INITIATIVES (PUSH ABF & LF, REDUCE COST, BUILD CASH) ICAO

NEGATIVE PRESS IN AUSTRALIA XAX

MARKETING MH370 MH17 QZ8501 AGGRESIVE MARKETING HALT CALL SIGN PRICE WAR XANADU OVERCAPACITY CAPACITY MANAGEMENT

FOUNDED: 197 2007 Net Profit/(Loss) 26 RM million COMPANY SLOGAN: 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 (11) NOW EVERYONE CAN FLY XTRA LONG (129) (126) (133) (168) (133) (211) (288) AFFILIATES: THAI AIRASIA X INDONESIA AIRASIA X TRANSFORMATION THROUGH NETWORK, MANPOWER, OPERATIONS, ANCILLARY, FLY-THRU, SALES & MARKETING, CASH AIRPORT: KUALA LUMPUR INTERNATIONAL AIRPORT 2, SEPANG, MALAYSIA (KUL)

DON MUEANG INTERNATIONAL AIRPORT, Network Consolidation Sales and BANGKOK, THAILAND (DMK) Manpower Operations Ancillary Grow Fly-Thru Build Cash (Capacity Management) Marketing

DENPASAR INTERNATIONAL AIRPORT, BALI, INDONESIA (DPS) Beginning of the year, AirAsia X (AAX) conducted a management reshuffling exercise and ALSO KNOWN AS appointed a new Group CEO, CEO and CFO. Members of the new management team are no NGURAH RAI INTERNATIONAL AIRPORT strangers to the business as they were key personnel from the AirAsia Group. Upon assuming their roles, the new management team initiated a decisive turnaround plan to place AAX on a better financial footing and to ensure we bring back confidence to the market. Our reorganisation strategy and turnaround initiatives for 2015 - 2016 include: AIRCRAFT HIGH AIRCRAFT UTILISATION & CONFIGURATION OPERATIONAL EXCELLENCE High seat density - 377 seats per aircraft, Aircraft utilisation rate of 15 hours per day 12% more than manufacturer’s configuration Maximising aircraft utilisation with lower turnaround 12 Premium Class Flatbeds & time (60-75 minutes) and achieving on-time 365 Economy Class Seats on all aircraft performance of 85% turnaround initiatives YOUNG & THROUGH NETWORK CONSOLIDATION EFFICIENT FLEET (CAPACITY MANAGEMENT)PEOPLE (ALLSTARS) No UNIONs An average fleet age of not more than 5 years High productivity - Multi-task & interchangeable roles Single fleet range & aircraft manufacturer Flat management structure with hands-on senior Aircraft can be interchanged management team

INNOVATIVE LOW DISTRIBUTION COST FUEL MANAGEMENT 85% sales via internet LOWER AIRCRAFT WEIGHT: Manage in-flight and meal inventory No heavy wiring for in-flight entertainment equipment Statistical potable water uplift Paperless cockpit (in progress) ECONOMIES OF SCALE PROVIDES

FLIGHT OPERATIONS OPTIMISATION: GOOD COST SAVINGS Fuel efficient speeds Strong bargaining power with vendors, suppliers, airport authorities and Fuel tankering aircraft manufacturer for attractive pricing Pilot flying techniques and monitoring Manpower merged with AirAsia Group, effectively reducing overhead costs Leverage on AirAsia brand, technology infrastructure and network Since Fuel contracts negotiated together with AirAsia Group 2007 for better price TURNAROUND INITIATIVES

network(Capacity consolidation Management) FREQUENCY on routes that were pressured by competitors - optimise capacity and IATA REDUCTION improve pricing. D7 terminated TRANSFERRED ICAO UNPROFITABLE ROUTES CHONGQING & COLOMBO XAX to AirAsia as these routes NAGOYA, ADELAIDE, NARITA are better suited for Stop losses immediately. CALL SIGN A320 operations. XANADU

FOUNDED: 2007

launched opening COMPANY SLOGAN: SAPPORO, NEW DELHI AND AUCKLAND OF NEW NOW EVERYONE CAN FLY XTRA LONG to drive passenger traffic and yields. AFFILIATES: THAI AIRASIA X MARKETS INDONESIA AIRASIA X

AIRPORT: KUALA LUMPUR INTERNATIONAL AIRPORT DEPLOYED EXCESS IMPROVED FLIGHT TIME 2, SEPANG, MALAYSIA (KUL) DON MUEANG INTERNATIONAL AIRPORT, BANGKOK, THAILAND (DMK) capacity for selected routes (i.e. Shanghai, Gold Coast and more) resultant from frequency cut DENPASAR INTERNATIONAL AIRPORT, BALI, to enhance during lean period to service network connectivity. INDONESIA (DPS) ALSO KNOWN AS ad-hoc wet leasing. This NGURAH RAI INTERNATIONAL AIRPORT helped us optimise aircraft utilisation and generated revenue denominated in USD. AIRCRAFT HIGH AIRCRAFT UTILISATION & CONFIGURATION OPERATIONAL EXCELLENCE High seat density - 377 seats per aircraft, Aircraft utilisation rate of 15 hours per day 12% more than manufacturer’s configuration Maximising aircraft utilisation with lower turnaround 12 Premium Class Flatbeds & time (60-75 minutes) and achieving on-time 365 Economy Class Seats on all aircraft performance of 85%

YOUNGturnaround & initiatives EFFICIENT FLEET THROUGH MANPOWERPEOPLE (ALLSTARS) No UNIONs An average fleet age of not more than 5 years High productivity - Multi-task & interchangeable roles Single fleet range & aircraft manufacturer Flat management structure with hands-on senior Aircraft can be interchanged management team

INNOVATIVE LOW DISTRIBUTION COST FUEL MANAGEMENT 85% sales via internet LOWER AIRCRAFT WEIGHT: Manage in-flight and meal inventory No heavy wiring for in-flight entertainment equipment Statistical potable water uplift Paperless cockpit (in progress) ECONOMIES OF SCALE PROVIDES

FLIGHT OPERATIONS OPTIMISATION: GOOD COST SAVINGS Fuel efficient speeds Strong bargaining power with vendors, suppliers, airport authorities and Fuel tankering aircraft manufacturer for attractive pricing Pilot flying techniques and monitoring Manpower merged with AirAsia Group, effectively reducing overhead costs Leverage on AirAsia brand, technology infrastructure and network Since Fuel contracts negotiated together with AirAsia Group 2007 for better price TURNAROUND INITIATIVES manpower MAXIMISE MANPOWER AND REDUCE COST without compromising on safety standards regulated by the Department of Civil Aviation Malaysia:

Reduced 9-person cabin crew to introduced IATA 8-PERSON cabin TURNAROUND FLIGHTS D7 crew for Shanghai, Xi’an and Perth (on selected flights only) Reduced crew overnight accommodation and allowance ICAO costs as cabin crew is permitted to work onboard up to 12 hours XAX per day, in line with industry standards. CALL SIGN XANADU

FOUNDED: Optimised 2007 TALENT: COMPANY SLOGAN: NOW EVERYONE CAN FLY XTRA LONG

retained redeployed AFFILIATES: released and promoted EXPERIENCED THAI AIRASIA X UNDERPERFORMING HIGH STAFF INDONESIA AIRASIA X STAFF PERFORMERS from AirAsia Group AIRPORT: to AirAsia X KUALA LUMPUR INTERNATIONAL AIRPORT 2, SEPANG, MALAYSIA (KUL)

DON MUEANG INTERNATIONAL AIRPORT, BANGKOK, THAILAND (DMK)

DENPASAR INTERNATIONAL AIRPORT, BALI, MERGED INDONESIA (DPS) ALSO KNOWN AS MARKETING & OPERATIONS NGURAH RAI INTERNATIONAL AIRPORT GROUND SERVICES & RAMP STAFF with AirAsia Group AIRCRAFT HIGH AIRCRAFT UTILISATION & CONFIGURATION OPERATIONAL EXCELLENCE High seat density - 377 seats per aircraft, Aircraft utilisation rate of 15 hours per day 12% more than manufacturer’s configuration Maximising aircraft utilisation with lower turnaround 12 Premium Class Flatbeds & time (60-75 minutes) and achieving on-time 365 Economy Class Seats on all aircraft performance of 85%

YOUNGturnaround & initiatives EFFICIENT FLEET THROUGH OPERATIONSPEOPLE (ALLSTARS) No UNIONs An average fleet age of not more than 5 years High productivity - Multi-task & interchangeable roles Single fleet range & aircraft manufacturer Flat management structure with hands-on senior Aircraft can be interchanged management team

INNOVATIVE LOW DISTRIBUTION COST FUEL MANAGEMENT 85% sales via internet LOWER AIRCRAFT WEIGHT: Manage in-flight and meal inventory No heavy wiring for in-flight entertainment equipment Statistical potable water uplift Paperless cockpit (in progress) ECONOMIES OF SCALE PROVIDES

FLIGHT OPERATIONS OPTIMISATION: GOOD COST SAVINGS Fuel efficient speeds Strong bargaining power with vendors, suppliers, airport authorities and Fuel tankering aircraft manufacturer for attractive pricing Pilot flying techniques and monitoring Manpower merged with AirAsia Group, effectively reducing overhead costs Leverage on AirAsia brand, technology infrastructure and network Since Fuel contracts negotiated together with AirAsia Group 2007 for better price TURNAROUND INITIATIVES operations Renegotiation OF GROUND HANDLING CONTRACTS IN to save about JAPAN & AUSTRALIA IATA RM D7 million per annum 3 ICAO XAX Maximise tankering ongoing CALL SIGN FUEL opportunities by conducting negotiations XANADU analysis on a TANKERING flight basis. OF GROUND HANDLING, FOUNDED: Saved close to D-FACTOR, AIRPORT 2007 million COMPANY SLOGAN: RM CHARGES & OTHER FEES NOW EVERYONE CAN FLY XTRA LONG in2015 10 AFFILIATES: THAI AIRASIA X INDONESIA AIRASIA X

ongoing AIRPORT: Paperless KUALA LUMPUR INTERNATIONAL AIRPORT 2, SEPANG, MALAYSIA (KUL) To replace hardcopy charts on board with NEGOTIATIONS Cockpit DON MUEANG INTERNATIONAL AIRPORT, of aircraft rental fees with lessors BANGKOK, THAILAND (DMK) Every ELECTRONIC FLIGHT BAGS, USD DENPASAR INTERNATIONAL AIRPORT, BALI, reducing aircraft weight by 10,000 INDONESIA (DPS) 55kg and fuel burn by reduction from lessors will save approx. ALSO KNOWN AS RM12 mil per annum for all operating lease NGURAH RAI INTERNATIONAL AIRPORT aircraft in 2016. 8.5 KG per sector AIRCRAFT HIGH AIRCRAFT UTILISATION & CONFIGURATION OPERATIONAL EXCELLENCE High seat density - 377 seats per aircraft, Aircraft utilisation rate of 15 hours per day 12% more than manufacturer’s configuration Maximising aircraft utilisation with lower turnaround 12 Premium Class Flatbeds & time (60-75 minutes) and achieving on-time 365 Economy Class Seats on all aircraft performance of 85% turnaround initiatives YOUNG & THROUGH ANCILLARY EFFICIENT FLEET PEOPLE (ALLSTARS) AND FLY-THRU No UNIONs An average fleet age of not more than 5 years High productivity - Multi-task & interchangeable roles Single fleet range & aircraft manufacturer Flat management structure with hands-on senior Aircraft can be interchanged management team

INNOVATIVE LOW DISTRIBUTION COST FUEL MANAGEMENT 85% sales via internet LOWER AIRCRAFT WEIGHT: Manage in-flight and meal inventory No heavy wiring for in-flight entertainment equipment Statistical potable water uplift Paperless cockpit (in progress) ECONOMIES OF SCALE PROVIDES

FLIGHT OPERATIONS OPTIMISATION: GOOD COST SAVINGS Fuel efficient speeds Strong bargaining power with vendors, suppliers, airport authorities and Fuel tankering aircraft manufacturer for attractive pricing Pilot flying techniques and monitoring Manpower merged with AirAsia Group, effectively reducing overhead costs Leverage on AirAsia brand, technology infrastructure and network Since Fuel contracts negotiated together with AirAsia Group 2007 for better price TURNAROUND INITIATIVES ancillary Drive ANCILLARY INCOME with

(i) Dynamic pricing for baggage (v) Extension of In-flight Entertainment in all markets (currently only available on IATA (ii) Value bundled package Australia flights) D7 (iii) New meal selections with new pricing (vi) Enhance duty free products & sales platform (iv) Introduction of Tune Insurance in new ICAO markets (vii) Premium lounge, and more XAX CALL SIGN TURNAROUND INITIATIVES XANADU grow fly-thru FOUNDED: 2007

COMPANY SLOGAN: REVIEW & IMPROVE NOW EVERYONE CAN FLY XTRA LONG AFFILIATES: flight slots for THAI AIRASIA X All Routes INDONESIA AIRASIA X across the group to enhance AIRPORT: network connectivity KUALA LUMPUR INTERNATIONAL AIRPORT 2, SEPANG, MALAYSIA (KUL)

DON MUEANG INTERNATIONAL AIRPORT, BANGKOK, THAILAND (DMK)

GROW KUL HUB Increase Fly-Thru product DENPASAR INTERNATIONAL AIRPORT, BALI, awareness and collaborate with INDONESIA (DPS) as a transit destination with new ALSO KNOWN AS entries such as New Delhi, tapping NGURAH RAI INTERNATIONAL AIRPORT into strong outbound demand from AIRASIA India to Australia, New Zealand, ASEAN pass to drive traffic Japan AIRCRAFT HIGH AIRCRAFT UTILISATION & CONFIGURATION OPERATIONAL EXCELLENCE High seat density - 377 seats per aircraft, Aircraft utilisation rate of 15 hours per day 12% more than manufacturer’s configuration Maximising aircraft utilisation with lower turnaround 12 Premium Class Flatbeds & time (60-75 minutes) and achieving on-time 365 Economy Class Seats on all aircraft performance of 85%

turnaroundTHROUGH SALES ANDinitiatives MARKETING, YOUNG & BUILD CASH EFFICIENT FLEET PEOPLE (ALLSTARS) No UNIONs An average fleet age of not more than 5 years High productivity - Multi-task & interchangeable roles Single fleet range & aircraft manufacturer Flat management structure with hands-on senior Aircraft can be interchanged management team

INNOVATIVE LOW DISTRIBUTION COST FUEL MANAGEMENT 85% sales via internet LOWER AIRCRAFT WEIGHT: Manage in-flight and meal inventory No heavy wiring for in-flight entertainment equipment Statistical potable water uplift Paperless cockpit (in progress) ECONOMIES OF SCALE PROVIDES

FLIGHT OPERATIONS OPTIMISATION: GOOD COST SAVINGS Fuel efficient speeds Strong bargaining power with vendors, suppliers, airport authorities and Fuel tankering aircraft manufacturer for attractive pricing Pilot flying techniques and monitoring Manpower merged with AirAsia Group, effectively reducing overhead costs Leverage on AirAsia brand, technology infrastructure and network Since Fuel contracts negotiated together with AirAsia Group 2007 for better price TURNAROUND INITIATIVES sales and marketing WE INTENSIFIED OUR MARKETING PLAN WITH A COMBINATION OF BRANDING AND PUBLIC RELATIONS CAMPAIGNS FEATURING AMBASSADORS FROM ACROSS THE REGION TO ACHIEVE STRONG POSITIONING. In 2015, Project We have BEN appointed was launched in Melbourne via multiple media, both out-of- David Foster, home and digital - to introduce our newly elected CEO time Grammy IATA award winner D7

as global ambassador for our ICAO Premium products, namely Premium XAX Flex and Premium Flatbed. We have also increased our collaboration with local tourism across the network to spur travel demand CALL SIGN via familiarisation trips, creative tactical campaigns and event partnerships such as sponsorship of the Gangwon district K-pop concert. XANADU

PAYMENT CHANNEL FOUNDED: Enhance to drive sales: LAUNCHED PARTNERSHIP 2007 (i) Activated IATA’s Billing Settlement Plan (BSP) in Korea, Australia, with Flight Centre Travel Group Taiwan and Japan. The BSP system simplifies the selling, reporting COMPANY SLOGAN: and remitting procedures of IATA Accredited Passenger Sales (FLT) in Australia on 2 June 2015 NOW EVERYONE CAN FLY XTRA LONG Agents, as well as improves financial control and cash flow for BSP Airlines. AFFILIATES: JOINT MARKETING with (ii) AirAsia Group signed an MOU with Union Pay on 15 April 2015 and THAI AIRASIA X introduced the new payment option on AirAsia's website. tourism INDONESIA AIRASIA X Increase marketing collaboration with (iii) Broader third-party distribution via Offline and Online Travel Agents tourism through destination marketing (OTA) and Global Distribution System (GDS) – for wider distribution AIRPORT: and familiarisation trips. reach to global travel agents as GDS provides access to our KUALA LUMPUR INTERNATIONAL AIRPORT inventory & fares. 2, SEPANG, MALAYSIA (KUL)

TURNAROUND INITIATIVES DON MUEANG INTERNATIONAL AIRPORT, build cash BANGKOK, THAILAND (DMK) DENPASAR INTERNATIONAL AIRPORT, BALI, INDONESIA (DPS) EXECUTED RIGHTS ISSUE WITH POSITIVE RESPONSE ALSO KNOWN AS NGURAH RAI INTERNATIONAL AIRPORT Achieved total Representing an Raised proceeds of subscription rate of oversubscription of RM391mil 114.91% 14.91% to rationalise operations AIRCRAFT HIGH AIRCRAFT UTILISATION & CONFIGURATION OPERATIONAL EXCELLENCE High seat density - 377 seats per aircraft, Aircraft utilisation rate of 15 hours per day 12% more than manufacturer’s configuration Maximising aircraft utilisation with lower turnaround 12 Premium Class Flatbeds & time (60-75 minutes) and achieving on-time 365 Economy Class Seats on all aircraft performance of 85%

YOUNG & fruits of EFFICIENT FLEET PEOPLE (ALLSTARS) TRANSFORMATIONNo UNIONs An average fleet age of not more than 5 years (Early Wins) High productivity - Multi-task & interchangeable roles Single fleet range & aircraft manufacturer Flat management structure with hands-on senior Aircraft can be interchanged management team

INNOVATIVE LOW DISTRIBUTION COST FUEL MANAGEMENT 85% sales via internet LOWER AIRCRAFT WEIGHT: Manage in-flight and meal inventory No heavy wiring for in-flight entertainment equipment Statistical potable water uplift Paperless cockpit (in progress) ECONOMIES OF SCALE PROVIDES

FLIGHT OPERATIONS OPTIMISATION: GOOD COST SAVINGS Fuel efficient speeds Strong bargaining power with vendors, suppliers, airport authorities and Fuel tankering aircraft manufacturer for attractive pricing Pilot flying techniques and monitoring Manpower merged with AirAsia Group, effectively reducing overhead costs Leverage on AirAsia brand, technology infrastructure and network Since Fuel contracts negotiated together with AirAsia Group 2007 for better price MALAYSIA Financial Results 4Q15 AIRASIA X

Load factor up Average base fare (ABF) Net profit of 2%Year-on-Year RM197mil after eight quarters of losses to (since 4Q2013) 22% 83% Year-on-Year

RM 563 IATA D7 461 466 433 393 ICAO 412 391 XAX

FARE BASE AVERAGE 310 337 CALL SIGN 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 XANADU * without fuel surcharge

FOUNDED: Scheduled flight CASK (US cent) 2007 (RM sen) REVENUE UP DOWN RASK COMPANY SLOGAN: NOW EVERYONE CAN FLY XTRA LONG % % 15 % 11 AFFILIATES: 15 Year-on-Year Year-on-Year Year-on-Year THAI AIRASIA X INDONESIA AIRASIA X • Average base fare up 5% Y-o-Y • RASK (RM sen) up 10% Y-o-Y AIRPORT: KUALA LUMPUR INTERNATIONAL AIRPORT • CASK (US cent) down 10% Y-o-Y 2, SEPANG, MALAYSIA (KUL) • Total revenue up 4% Y-o-Y DON MUEANG INTERNATIONAL AIRPORT, • Total cost down 3% Y-o-Y BANGKOK, THAILAND (DMK) • Operating loss narrowed to RM37mil FULL YEAR 2015 from RM176mil in FY2014 DENPASAR INTERNATIONAL AIRPORT, BALI, • Net loss narrowed to RM350mil from INDONESIA (DPS) RM519mil in FY2014 ALSO KNOWN AS MALAYSIA AIRASIA X NGURAH RAI INTERNATIONAL AIRPORT • Net gearing improved to 1.8x • CASH IMPROVED RM184mil to RM311mil from 31 Dec 2014 • POSITIVE NET CASH FLOW network 19 9 7 ROUTES COUNTRIES UNIQUE Sydney Tokyo (Haneda) Australia Taiwan Melbourne Osaka New Zealand India AIRCRAFT China HIGHNepal AIRCRAFTROUTES UTILISATION & Gold Coast Sapporo Japan Saudi Arabia Sapporo Xi’an CONFIGURATIONPerth Seoul OPERATIONAL EXCELLENCE Korea Gold Coast Hangzhou High seat densityAuckland - 377 seatsBusan per aircraft, Aircraft utilisation rateHaneda of 15 hours perBusan day 12% more thanChengdu manufacturer’sTaipei configuration Chengdu Hangzhou New Delhi Maximising aircraft utilisation with lower turnaround 12 Premium Class Flatbeds & time (60-75 minutes) and achieving on-time 365 EconomyShanghai Class SeatsKathmandu on all aircraftMalaysia performance of 85% Beijing Jeddah AIRASIA X Xi’an FLEET SIZE 21 A330-300 (as at 31 March 2016) YOUNG & EFFICIENT FLEET PEOPLE (ALLSTARS) Thai IndonesiaNo UNIONs An average fleet age of not moreAIRASIA than 5 years X AIRASIA X High productivity - Multi-task & interchangeable roles Single fleet range & aircraft manufacturer Flat management structure with hands-on senior Seoul Sydney Aircraft can be interchanged management team Osaka Melbourne Tokyo (Narita) 4ROUTES Shanghai 3 ROUTES Jakarta – Jeddah (seasonal)

Japan Australia Korea INNOVATIVE Saudi Arabia China LOW DISTRIBUTION COST 3COUNTRIES 2 COUNTRIES FUEL MANAGEMENT 85% sales via internet LOWER AIRCRAFT WEIGHT: ManageFLEET in-flight and SIZEmeal inventory FLEET SIZE No heavy wiring for in-flight entertainment equipment Statistical6 A330-300potable water uplift 2 A330-300 (as at 31 March 2016) (as at 31 March 2016) Paperless cockpit (in progress) ECONOMIES OF SCALE PROVIDES

FLIGHT OPERATIONS OPTIMISATION: GOOD COST SAVINGS Fuel efficient speeds Strong bargaining power with vendors, suppliers, airport authorities and Fuel tankering aircraft manufacturer for attractive pricing Pilot flying techniques and monitoring Manpower merged with AirAsia Group, effectively reducing overhead costs Leverage on AirAsia brand, technology infrastructure and network Since Fuel contracts negotiated together with AirAsia Group 2007 for better price transitingPASSENGERS Million 1.5 PASSENGERS of AAX transited via KUL in 2015 IATA D7 AAX - AIRASIA ICAO % 75% 75 69% 70% of AAX transiting passengers 66% XAX

50% CALL SIGN tappedinto AirAsia’s network XANADU and is GROWING

FOUNDED: 2007 2011 2012 2013 2014 2015 COMPANY SLOGAN: NOW EVERYONE CAN FLY XTRA LONG

AFFILIATES: THAI AIRASIA X Allstars INDONESIA AIRASIA X

AIRPORT: 2,204 495 KUALA LUMPUR INTERNATIONAL AIRPORT (Malaysia AAX) (Thai AAX) 2, SEPANG, MALAYSIA (KUL)

DON MUEANG INTERNATIONAL AIRPORT, PASSENGERS 194 BANGKOK, THAILAND (DMK) (Indonesia AAX) DENPASAR INTERNATIONAL AIRPORT, BALI, INDONESIA (DPS) carried ALSO KNOWN AS • Over 19 million passengers carried NGURAH RAI INTERNATIONAL AIRPORT since inception

• 2009 - 2015 Compounded Annual Growth Rate: 23% ANNUAL REPORT 2015 THE THIRD ISSUE A NOTE TO ALLSTARS AIRASIA X BERHAD ANNUAL REPORT 2015 THE THIRD ISSUE A NOTE TO ALLSTARS AIRASIA X BERHAD

It’s been an incredibly challenging year for AirAsia X, as we worked assiduously to implement our turnaround programme. At the same time, it has been personally a very heartening year for us, as we witnessed the way in which our Allstars responded to the demands and pressures placed on them.

As part of our cost-cutting measures we have integrated our operations more closely with that of the AirAsia Group, resulting in many of our Allstars having to relocate from their old office space to join colleagues from AirAsia in their function-related areas. This has meant creating new personal and professional relationships, and getting used to a new physical environment. In addition, as we restructure our organisation, we are requiring our Allstars to multi-task and take on additional roles.

All these changes have been accepted, indeed embraced, in good faith. Instead of any resistance, our Allstars, from operations to management, have shown their true colours, displaying not only a willingness to adapt to our new work environment but also the ability to perform under pressure.

The management certainly could not have managed our turnaround, nor achieve the successes that we have, without the full support and encouragement of our team. We would like to take this opportunity to express our heartfelt appreciation to all our Allstars who have shown yet again that, no matter what, they will give their 100% to deliver positive results. Such dedication, commitment and passion are truly hard to find, almost as hard as it is for us to find the words to express how grateful we are to have such a wonderful team.

We’ve come this far and, together, we can go much further. With your continuous support, Allstars, we can achieve greater success! FROM US Datuk Kamarudin, Tony Fernandes, Benyamin Ismail

ANNUAL REPORT 2015 THE THIRD ISSUE AIRASIA X BERHAD 24 AIRASIA X FLY-THRU NETWORK via malaysia (as at 31 march 2016) south korea japan china

nepal saudi arabia taiwan india

thailand

malaysia

indonesia

FLY-THRU FACTS: 1. Connected 1,500,000 passengers in 2015 from 732,000 passengers in 2011 australia 2. Connecting over 200 destinations 3. Top 3 Fly-Thru destinations: • Melbourne - Thailand • Beijing - Thailand • Sydney - Indonesia

new zealand airasia x routes

* for illustration purposes only FLY-THRU new zealand japan australia south korea taiwan china indonesia thailand malaysia nepal india

hailand er 200 destinations hailand om 732,000 passengers in 2011 • Sydney - Indonesia • Sydney T • Beijing - T • Melbourne - 3 fly-thru destinations: Top Connecting ov fr 1,500,000 passengers in 2015 Connected

2. 3. 1. THRU FACTS: FLY saudi arabia * for illustration purposes only illustration * for (as at 31 march 2016) via malaysia NETWORK AIRASIA X AIRASIA FLY-THRU NETWORK via malaysia (as at 31 march 2016)

china bangladesh hong kong taiwan myanmar laos

thailand vietnam cambodia india philippines

sri lanka malaysia brunei maldives singapore

indonesia

airasia routes

* for illustration purposes only CONTENTStable of

PERSPECTIVE REPORT AND 51 CHAIRMAN’S FINANCIAL STATEMENT STATEMENTS 53 GROUP CEO’S STATEMENT 86 STATEMENT ON CORPORATE 57 CEO’S STATEMENT OVERVIEW GOVERNANCE BUSINESS MODEL 95 AUDIT COMMITTEE REPORT TURNAROUND AFFILIATES INITIATIVES 98 STATEMENT ON RISK 64 THAI AAX CEO'S MANAGEMENT & A NOTE TO ALLSTARS STATEMENT INTERNAL CONTROL FLY-THRU NETWORK 66 THAI AAX LEADERSHIP 102 ADDITIONAL VISION & MISSION TEAM COMPLIANCE 4 MILESTONES & EVENTS 70 INDONESIA AAX CEO'S INFORMATION 8 JOURNEY INTO 2015 STATEMENT 108 FINANCIAL STATEMENTS 11 ACHIEVEMENTS 72 INDONESIA AAX LEADERSHIP TEAM 13 INVESTOR RELATION CALENDAR OF EVENTS OTHER 2015 INFORMATION 15 CORPORATE SUSTAINABILITY 201 ANALYSIS OF INFORMATION 77 COMMUNITY SHAREHOLDINGS 16 CORPORATE STRUCTURE 78 MARKETPLACE 205 ANALYSIS OF 80 WORKPLACE WARRANT HOLDINGS PERFORMANCE 83 ENVIRONMENT 207 NOTICE OF ANNUAL GENERAL MEETING REVIEW 210 STATEMENT 18 FIVE-YEAR FINANCIAL ACCOMPANYING & OPERATIONAL NOTICE OF ANNUAL HIGHLIGHTS GENERAL MEETING 20 FINANCIALS & 211 COMPANY DIRECTORY OPERATIONS AT A GLANCE FORM OF PROXY 21 SHARE PRICE PERFORMANCE

PEOPLE 31 DIRECTOR’S PROFILE 40 LEADERSHIP TEAM’S PROFILE ANNUAL REPORT 2015 THE THIRD ISSUE AIRASIA X BERHAD ANNUAL REPORT COMMITTEE TEAM 1 PEOPLE BEHIND THEScenes

NG WEI NIE AILEENA CHONG investor relations investor relations

HO PHUI PHUI ALVIN SIM CHEE YUNG IVAN ALIAS SAMUEL JOHN OMAMALIN ceo's office ceo's office ceo's office ceo's office

RAZAK SALIM ROZELL NG ALEX CHIA ARIFF SHAH branding branding photographer photographer VISION & missionWHERE WE SEE OUR FUTURE - AS PART OF AIRASIA GROUP -

To be largest low-cost airline in Asia and serving the 3 - To be the best company to work for whereby billion people who are currently underserved with lack of employees are treated as part of a big family. connectivity and high fares. - Create a globally recognised ASEAN brand.

- To attain the lowest cost so that everyone can fly with AirAsia.

- Maintain the highest quality product, embracing technology to reduce cost and enhance service levels.

We are Allstars and we are...

- SAFETY CONSCIOUS - Our guests’ safety is our primary concern so we carry out our functions with care. Because where safety is concerned, every little thing matters. - CARING - It’s a warm and friendly feeling to have, so we take pleasure in caring for our guests in ways that make them feel at home. - PASSIONATE - Being passionate means going the extra mile to achieve a purpose much larger than ourselves. They say passionate people can change the world and that’s something that’s very close to our hearts. - FULL OF INTEGRITY - We believe everything that is worth doing, is worth doing right. It’s about us doing the right things at all times. - HARD-WORKING - It means one team, working together towards a common goal. Whether it’s meeting our fast turnaround time or making sure we keep you connected to the best destinations at the lowest prices, we do it as a team. All for one. One for all. - FUN - Fun means we celebrate life. It means we laugh louder, our smiles are wider, and we can be our own unique selves. We’re a sociable bunch and we enjoy sharing ideas and solutions to make things even better. After all, fun is meant to be shared. ANNUAL REPORT 2015 THE THIRD ISSUE MILESTONES & EVENTS AIRASIA X BERHAD 4

Few easy steps to revisit AirAsia X’s Annual Report 2014:

1. Search and install for QR Code Revisit Reader from Apple App Store or Google Play with your smartphone.

2. Once installed, start the QR app to AIRASIA X'S launch the QR camera App. 3. Scan it with QR camera to enjoy the report content. Benyamin Ismail MOMENTOUS Chief Executive Officer occasions in Style! SCAN HERE

2007 2008 2009

5 January 4 February 13 January 24 June Tan Sri Dr. Tony Fernandes The Kuala Lumpur–Hangzhou, The Supersize baggage With the administration fee and Datuk Kamarudin China route is launched. policy is introduced. abolished, passengers now Meranun announce the pay only for their seat and launch of AirAsia X. 13 March 17 February airport tax. More than 100,000 seats Passengers can make use 14 June have been sold, valued at of a web-based self check-in 26 June AirAsia X places an order for approximately RM100 million. facility. AirAsia X sponsors the 15 Airbus A330-300 aircraft. Oakland Raiders, three-time 27 March 11 March National Football League 10 August An order is placed for another AirAsia X celebrates its (NFL) Super Bowl champions. AirAsia X announces a 20% 10 Airbus A330-300 aircraft, inaugural flight to Stansted, investment by Sir Richard bringing the airline’s total London. 1 July Branson’s Virgin Group. order to 25 A330-300 aircraft. A new route to Taipei, Taiwan 2 April is launched. 2 October 31 October Transport Minister Dato’ Sri AirAsia X receives its Air AirAsia X takes delivery of its Ong Tee Keat sends off AirAsia 8 August Operator’s Certificate and first brand-new Airbus A330- X’s first flight to Tianjin, China. AirAsia X celebrates the 42nd Air Service License from the 300 aircraft in Toulouse, France. ASEAN Day at the Low Cost Department of Civil Aviation, 28 April Carrier Terminal (LCCT) in Malaysia. 2 November AirAsia X and AirAsia partner Sepang. AirAsia X celebrates its first Scicom (MSC) Berhad to 2 November anniversary with a second establish a world-class, state-of- 20 October The first flight to Australia’s Australian destination, Perth. the-art global contact centre. A new route is launched to Gold Coast is launched, with Chengdu, China. pioneering assigned seating 13 November 16 June and pre-booked meals. AirAsia X’s inaugural flight AirAsia X orders 10 A350-900 from Kuala Lumpur to aircraft with an option for Melbourne, Australia takes off. another five. ANNUAL REPORT 2015 THE THIRD ISSUE MILESTONES & EVENTS AIRASIA X BERHAD 5 28 APRIL 2014

AirAsia X signs an MOU with GE for the supply of CF6 engines for its fleet.

2010 2011

20 January 4 August 17 January highest peaks, culminating with Self check-in kiosks are New routes are launched to The Fly-Thru service is launched a successful ascent of Mount introduced at the LCCT and New Delhi, India and Tehran, at the LCCT. Everest on 21 May. selected regional airports. Iran. 27 January 10 May 10 February 2 November Passengers can upgrade to AirAsia X joins the Group’s AirAsia X and AirAsia are Seoul, South Korea becomes Premium Class for a nominal year-long ‘To Japan With Love’ the title sponsors of the 2010 AirAsia X’s 12th destination. fee via OptionTown. campaign. AirAsia British Grand Prix at Silverstone. 9 December 3-7 February 26 May A new route is launched to 2,380 Malaysians are returned Celebrity Chef Shingun is to 5 April Tokyo-Haneda, Japan. on AirAsia X rescue flights from prepare Korean dishes for AirAsia X introduces its the Egyptian cities of Cairo and Seoul – Kuala Lumpur flights. popular Premium flatbeds. Alexandria. 22 June 8 April 14 February A Memorandum of AirAsia X and AirAsia Valentine’s Day is celebrated Understanding (MOU) is put a Malaysian team in with the first flight to Paris Orly, signed with Rokki Sdn Bhd the 2010 MotoGP World France. (formerly known as Tune Box Championship. Sdn Bhd) for the development 1 April of an In-flight Entertainment 6 May AirAsia X launches a new route (IFE) solution. AirAsia X launches a new to Christchurch, New Zealand. route to Mumbai, India. 28 June 7 April The Malaysian Government lifts Adventurer Khoo Swee Chow route restrictions on AirAsia X, is flown to eight destinations with the exception of Sydney. within AirAsia X’s network, namely China, the UK, France, 30 November Iran, Japan, Korea, Taiwan and AirAsia X touches down at New Zealand, to scale their Kansai International Airport in Osaka, Japan. ANNUAL REPORT 2015 THE THIRD ISSUE MILESTONES & EVENTS AIRASIA X BERHAD 6

2012 2013

12 January 1 February AirAsia X announces the AirAsia X caters to guests who like their peace suspension of flights to and quiet with the launch of the Quiet Zone. London, Paris, Mumbai and New Delhi as part of its 16 February network consolidation. AirAsia X’s first flight to Jeddah, Saudi Arabia takes off. 9 February The Empty Seat Option (ESO) 19 February via OptionTown is launched. AirAsia X’s first flight to Shanghai, China takes off.

2 April 26 February The long-awaited route to The Red Carpet service is launched, providing 10 June Kingsford Smith International VIP treatment to guests. AirAsia X launches its Initial Public Offering (IPO) Airport, Sydney, Australia is prospectus. launched. 10 April AirAsia X launches the 'Fly Home to Vote' 13 June 22 June campaign in conjunction with Malaysia’s 13th AirAsia X launches a Shareholders’ Benefit AirAsia X transfers its service General Elections. Programme for retail investors who maintain from Tianjin to Beijing, China. their IPO shares for the first three years, subject to 23 April terms and conditions. 10 July AirAsia X receives its 10th Airbus A330-300 Kathmandu, Nepal becomes aircraft in Toulouse, France. 10 July a new destination from Kuala AirAsia X commences trading under AAX (Stock Lumpur. Code: 5238) on the Main Market of Bursa Malaysia. 23 July The Samsung Galaxy Tab 15 July 10.1 is made available on AirAsia X arrives in Busan, its second destination all flights as a pre-booked in South Korea after Seoul. option. 29 August 9 August AirAsia X completes its rescue mission in Cairo, A letter of intent is signed after having brought home a total of 1,110 with the International Lease Malaysians. Finance Corporation (ILFC) for the lease of six Airbus 12 May 14 October A330-300 aircraft. Sir Richard Branson dresses as a flight attendant Thai AirAsia X (TAAX) receives the Air Operator’s and serves on board flight D7237 from Perth to License from the Ministry of Transport Thailand. 2 November Kuala Lumpur. An Australian wins AirAsia X’s 18 December Friendsy Facebook contest – The single largest aircraft type firm order of 25 held to celebrate the airline’s Airbus A330-300 aircraft is sealed with Airbus, fifth anniversary – and gets valued at USD6 billion. to fly with 300 of her family and friends from Sydney to Kuala Lumpur on their own exclusive flight. ANNUAL REPORT 2015 THE THIRD ISSUE MILESTONES & EVENTS AIRASIA X BERHAD 7

2014

4 February 28 November TAAX obtains its Air Operator’s Certificate AirAsia X welcomes its 22nd Airbus A330- and appoints Nadda Buranasiri as its new 300 aircraft, called Rhythmic Experience, CEO. powered by Rolls-Royce’s 1,500th Trent 700 engine. 28 April AirAsia X signs an MOU with GE for the 3 December supply of CF6 engines for its fleet. AirAsia X sponsors 87 return flights from Shanghai to Kuala Lumpur for the Shanghai Symphony Orchestra in support of a charity concert organised by the Alzheimer’s Disease Foundation Malaysia. 15 August AirAsia X unveils a new livery, called Xcintillating Phoenix, for its 21st aircraft – the name being the winning entry by Denzel Yap in a social media contest. 9 May AirAsia X together with AirAsia Berhad begin 28 August operations in KLIA 2. Indonesia AirAsia X (IAAX) obtains its Air Operator’s Certificate. 25 May AirAsia X signs a Commercial Marketing 4 September Agreement with Air Busan offering AirAsia X flies the first batch of Malaysian customers affordable fares to Jeju Island Battalion (MALBATT) 850-2 to Lebanon. from Busan, both in Korea. 10 December 30 October AirAsia X, together with AirAsia, announces 17 June AirAsia X is presented with an Excellence global football icon Park Ji Sung as its new TAAX launches its inaugural flight from award by Expatriate Lifestyle’s The Best of global ambassador with the unveiling of a Bangkok to Seoul, Korea with a 100% load Malaysia Awards. Park Ji Sung livery. factor. 19 November 15 December 2 July AirAsia X supports Neubodi’s 'Uplift Charity AirAsia X places a firm order for 55 Airbus AirAsia X sends off its first flight to Xi’an, Trail' to donate bras to village women in A330neo aircraft. China marking it as the only airline from Nepal. Kuala Lumpur to connect both cities. 19 December 21 November AirAsia X helps to spread Christmas cheer AirAsia X commences flights to Narita, at KLIA 2. Tokyo.

25 November Airasia X supports the Awesome All Stars, Malaysia’s elite cheerleading team, to compete in the 2014 Australian All Star Cheer & Dance Championship held in the Gold Coast.

15 July AirAsia X and Airbus sign an MOU for Airbus A330neo aircraft valued at USD13.8 billion.

AirAsia X is named the World’s Best Low- Cost Airline - Premium Class Seat and World’s Best Low-Cost Airline - Premium Cabin by Skytrax World Airline Awards in London. ANNUAL REPORT 2015 THE THIRD ISSUE JOURNEY AIRASIA X BERHAD INTO 2015 8 january may 30 JANUARY 12 MAY 18 MAY AirAsia X announces leadership changes with Datuk Kamarudin AirAsia X receives the IATA IAAX launches its inaugural Meranun as Group CEO and Benyamin Ismail as Acting CEO of Operational Safety Audit (IOSA) flight from Bali to Melbourne. AirAsia X. Registration. february june 13 FEBRUARY AirAsia X launches its inaugural flight from Kuala Lumpur to Chongqing, China. 2

25 FEBRUARY AirAsia X appoints Cheok Huei Shian as Chief Financial Officer. march 5 MARCH Civil Aviation Safety Authority (CASA) approves Indonesia AirAsia X (IAAX)’s direct flight from Melbourne, Australia to Bali, Indonesia.

28 MARCH AirAsia X supports young climbers taking part in the Misi Perdana UTM Everest 2015. 16 april 29 APRIL AirAsia X offers free flights to Nepal for NGOs and humanitarian agencies in aid of relief efforts.

18

2 JUNE 16 JUNE AirAsia X and Flight Centre sign AirAsia X is named the World’s a Key Supplier Agreement. Best Low-Cost Airline Premium Cabin & Premium Seat for the third consecutive year. ANNUAL REPORT 2015 THE THIRD ISSUE JOURNEY AIRASIA X BERHAD INTO 2015 9

july september 11 JULY AirAsia X’s leadership team brings cheer to orphans at Rumah Kasih Sayang. 8 august 12

28

27

1 SEPTEMBER 8 SEPTEMBER AirAsia X names Benyamin Ismail AirAsia X and AirAsia continue as its CEO. to fly Malaysian heroes on peacekeeping missions.

28 SEPTEMBER Thai AirAsia X (TAAX) celebrates its inaugural flight from Bangkok to Shanghai, China.

12 AUGUST 27 AUGUST AirAsia X and AirAsia reveal the Malaysia and Thai AirAsia X 'Hitman' David Foster as their announces collaboration with new global ambassador. Lotte World to offer attraction tickets on flights to Seoul. ANNUAL REPORT 2015 THE THIRD ISSUE JOURNEY AIRASIA X BERHAD INTO 2015 10 october 1 17

1 OCTOBER 17 OCTOBER AirAsia X launches its inaugural flight from Kuala Lumpur to Sapporo, IAAX celebrates its inaugural flight from Bali to Sydney, Australia. Japan. november 19

19 NOVEMBER 20 NOVEMBER AirAsia X bids namasté (hello) to New Delhi with the launch of a new AirAsia X and AirAsia introduce exclusive in-flight dishes based on route to the Indian capital. winning recipes from the AirAsia Challenge on the MasterChef Asia TV series. ANNUAL REPORT 2015 THE THIRD ISSUE AIRASIA X AIRASIA X BERHAD ACHIEVEMENTS 11

2008 2011 2013

• Budgie World Low Cost • Best Network Performance • World’s Best Low-Cost Airline Airline Award for World’s at the inaugural World - Premium Class Seat and Best New Airlines Routes Awards World’s Best Low-Cost Airline - Premium Seat by Skytrax • CAPA New Airline of the • Ranked second Best Low- World Airline Awards Year Award Cost Airline in Asia by • Uber Social WITovation Skytrax, after AirAsia Berhad Award at the Web In Travel • Best Budget Airline 2011 from (WIT) Conference Smart Traveller • Best Investor Relations for • Air Cargo Industry Customer IPO Award by IR Magazine Care Award 2011, together & Conference South East 2009 Asia with AirAsia Berhad

• World’s Best Low-Cost Airline by Skytrax, together with AirAsia Berhad 2014 • CAPA New Airline of the 2012 Year Award joint, winner • World’s Best Low-Cost Airline with AirAsia Berhad • Airbus Top Operational - Premium Class Seat and World’s Best Low-Cost Airline Excellence Award 2010-2011 - Premium Cabin by Skytrax for being the world’s best World Airline Awards A330-300 operator (small fleet category) • Best Investor Relations for an IPO Award by • Ranked second Best Low- Malaysian Investor Relations 2010 Cost Airline in Asia by Association (MIRA) Skytrax, after AirAsia Berhad • An Excellence Award by • World’s Best Low-Cost • Best Low Cost Airline in the Expatriate Lifestyle’s The Airline by Skytrax for the Travel Top 50 issue Wish Best of Malaysia Awards second consecutive year, (The Australian) with AirAsia Berhad • Rising Star Carrier of the Year at Payload Asia Awards 2012, together with AirAsia Berhad 2015 2011 • Best New Route Launch (for Haneda) at the World • World’s Best Low-Cost Low Cost Airlines Congress Airline - Premium Seat and • World’s First long-haul Budgies Awards Premium Cabin by Skytrax low-cost carrier to receive second place in • Air Cargo Industry • Asia's Leading Cabin Crew the Transportation and Customer Care Award from by World Travel Awards Air Cargo Week with AirAsia Advertising category of the • Ranked second Best Low- Berhad Asahi Advertising Award by Cost Airline in Asia by The Asahi Shimbun • Ranked 4th best in-flight Skytrax meals by the inaugural • Ranked second Best Low- Skyscanner Asia Pacific Cost Airline in Australia/ Food Awards (long-haul Pacific by Skytrax category) This page has been intentionally left blank. ANNUAL REPORT 2015 THE THIRD ISSUE INVESTOR RELATIONS AIRASIA X BERHAD CALENDAR OF EVENTS 2015 13

3RD FEBRUARY 20TH - 22ND MAY 19TH AUGUST ADS Securities Non-Deal CIMB Roadshow Announcement Roadshow - Rights Issue of the unaudited results for 2Q15 and 1H15 Abu Dhabi, UAE Kuala Lumpur, Malaysia Kuala Lumpur, Malaysia 24TH FEBRUARY 27TH MAY 21ST SEPTEMBER Announcement of the Announcement of the unaudited results for unaudited results for 1Q15 Equities Tracker 4Q14 and FY14 Investor Talk Kuala Lumpur, Malaysia Kuala Lumpur, Malaysia Kuala Lumpur, Malaysia 4TH JUNE 13TH OCTOBER 23RD - 24TH MARCH 9th Annual Credit Suisse’s General Meeting CLSA Non-Deal 18th Annual Asian Roadshow Investment Conference Kuala Lumpur, Malaysia London, United Kingdom Hong Kong 6TH JULY 25TH NOVEMBER Credit Suisse Non-Deal 27TH MARCH Roadshow Announcement Extraordinary General Meeting of the unaudited results for - Rights Issue with Warrants Singapore 3Q15 and 9M15

Kuala Lumpur, Malaysia Kuala Lumpur, Malaysia 7TH JULY Credit Suisse Non-Deal 13TH - 14TH APRIL Roadshow CIMB Non-Deal Roadshow Hong Kong

London, United Kingdom 8TH JULY Credit Suisse Non-Deal Roadshow

Tokyo, Japan This page has been intentionally left blank. ANNUAL REPORT 2015 THE THIRD ISSUE CORPORATE AIRASIA X BERHAD INFORMATION 15

TAN SRI OARD OF RAFIDAH AZIZ Senior Independent BDIRECTORS Non-Executive Chairman

DATUK KAMARUDIN TAN SRI DR. ANTHONY DATO’ FAM LEE EE BIN MERANUN FRANCIS FERNANDES Non-Independent Non-Executive Director Non-Independent Executive Director and Non-Independent Group Chief Executive Officer Non-Executive Director

LIM KIAN ONN DATO’ YUSLI TAN SRI ASMAT Independent BIN MOHAMED YUSOFF BIN KAMALUDIN Non-Executive Director Independent Independent Non-Executive Director Non-Executive Director

AUDIT COMMITTEE AUDITORS SHARE REGISTRAR Dato’ Yusli Bin Mohamed Yusoff PricewaterhouseCoopers (AF 1146) Symphony Share Registrars Sdn Bhd Tan Sri Asmat Bin Kamaludin Chartered Accountants Level 6, Symphony House Lim Kian Onn Level 10, 1 Sentral Pusat Dagangan Dana 1 Jalan Rakyat, Kuala Lumpur Sentral Jalan PJU 1A/46 NOMINATION AND P.O. Box 10192, 50706 Kuala Lumpur, Malaysia 47301 Petaling Jaya Tel: +603 2173 1188 Selangor Darul Ehsan REMUNERATION COMMITTEE Fax: +603 2173 1288 Tel: +603 7841 8000 Tan Sri Rafidah Aziz Fax: +603 7841 8008 Dato’ Yusli Bin Mohamed Yusoff REGISTERED OFFICE Dato’ Fam Lee Ee AirAsia X Berhad (Company No. 734161-K) SOLICITOR B-13-15, Level 13 Chooi & Company EMPLOYEES’ SHARE OPTION Menara Prima Tower B Level 5, Menara BRDB SCHEME COMMITTEE Jalan PJU 1/39, Dataran Prima 285, Jalan Maarof Datuk Kamarudin Bin Meranun 47301 Petaling Jaya Bukit Bandaraya Benyamin Bin Ismail Selangor Darul Ehsan 59000, Kuala Lumpur Amir Faezal Bin Zakaria Tel: +603 7491 4318 Wilayah Persekutuan Fax: +603 7887 2318 Tel: +603 2055 3888 SAFETY REVIEW BOARD Fax: +603 2055 3880 Tan Sri Rafidah Aziz HEAD OFFICE Datuk Kamarudin Bin Meranun LCC Terminal STOCK EXCHANGE LISTING Dato’ Fam Lee Ee Jalan KLIA S3, Southern Support Zone Main Market of Bursa Malaysia Benyamin Bin Ismail KLIA, 64000 Sepang Securities Berhad Selangor Darul Ehsan (Listed since 10 July 2013) COMPANY SECRETARIES Tel: +603 8660 4600 (Stock code: 5238) Fax: +603 8775 4036 Jasmindar Kaur A/P Sarban Singh Email: [email protected] (MAICSA 7002687) Website: www.airasiax.com Ching Koon Kah @ Chin Kon Kah (MIA 8008) ANNUAL REPORT 2015 THE THIRD ISSUE CORPORATE AIRASIA X BERHAD STRUCTURE 16

AIRASIA X BERHAD

THAI AIRASIA X PT. INDONESIA AAX CAPITAL LIMITED AAX CAPITAL II LIMITED CO., LTD AIRASIA EXTRA 49% 49% 100% 100%

AAX MAURITIUS AIRASIA X ONE LIMITED AAX LEASING I LIMITED FLY X LIMITED SERVICES PTY LTD 100% 100% 100% 100%

ANNUAL REPORT 2015 THE THIRD ISSUE AIRASIA X BERHAD 18

FIVE-YEAR FINANCIAL& OPERATIONAL HIGHLIGHTS ANNUALFor the REPORT Year Ended 2015 31 December THE THIRD ISSUE (RM million, unless otherwise stated) AIRASIA X BERHAD 19INCOME STATEMENT 2011 2012 2013 2014 2015 Revenue 1,862 1,967 2,308 2,937 3,063 Total Operating Expenses 1,937 1,925 2,297 3,304 3,217 EBITDAR 191 308 339 342 813 EBITDA 45 156 152 5 107 (LBIT)/EBIT (60) 49 31 (176) (37) (Loss)/Profit Before Tax (131) 38 (212) (605) (446) Net (Loss)/Profit (97) 34 (88) (519) (350)

BALANCE SHEET

Deposits, Cash & Bank Balances 114 174 263 127 311 Total Assets 2,401 2,428 4,002 3,736 4,182 Net Debt (Total Debt - Total Cash) 1,165 1,218 1,733 1,452 1,118 Shareholders’ Equity 547 581 1,236 704 632

CASH FLOW STATEMENT

Net Cash (Used in)/From Operating Activities (137) (37) 189 (53) (13) Net Cash (Used in)/From Investing Activities (129) (60) (1,309) 392 297 Net Cash From/(Used in) Financing Activities 33 154 1,156 (483) (114) Net Cash Flow (233) 57 37 (143) 170

CONSOLIDATED FINANCIAL PERFORMANCE (%)

Return On Total Assets (4.0) 1.4 (2.2) (13.9) (8.4) Return On Shareholders’ Equity (17.7) 5.9 (7.1) (73.8) (55.3) R.O.C.E (EBIT/(Net Debt + Equity)) (3.5) 2.7 1.0 (8.2) (2.1) EBITDAR Margin 10.3 15.7 14.7 11.6 26.6 EBITDA Margin 2.4 7.9 6.6 0.0 3.5 (LBIT)/EBIT Margin (3.2) 2.5 1.3 (6.0) (1.2) (Loss)/Profit Before Tax Margin (7.0) 1.9 (9.2) (20.6) (14.6) Net (Loss)/Profit Margin (5.2) 1.7 (3.8) (17.7) (11.4)

CONSOLIDATED OPERATING STATISTICS

Passenger Carried 2,526,181 2,580,946 3,161,456 4,230,952 3,613,537 Capacity 3,159,866 3,072,981 3,860,480 5,150,574 4,848,974 Load Factor (%) 80 84 82 82 75 RPK (million) 14,143 13,601 15,857 20,817 17,552 ASK (million) 17,648 16,231 19,309 25,374 23,388 Aircraft Utilization (hours per day) 15.8 16.2 16.3 16.3 15.0 Average Fare (RM) 575.9 554.8 525.2 468.8 493.0 Ancillary Revenue Per Pax (RM) 122.7 142.4 145.0 139.4 131.8 Revenue per ASK (sen) 10.59 12.00 12.06 11.97 13.13 Revenue per ASK (USc) 3.46 3.88 3.83 3.66 3.37 Cost per ASK (sen) 10.94 11.56 11.98 12.91 13.75 Cost per ASK (USc) 3.58 3.74 3.80 3.94 3.53 Cost per ASK - excluding fuel (sen) 5.17 5.86 6.28 6.92 9.38 Cost per ASK - excluding fuel (USc) 1.69 1.90 1.99 2.11 2.40 Size of Fleet at Year End 11 11 19 26 27 Average Stage Length (km) 5,664 5,306 5,002 4,927 4,761 Sectors Flown 8,508 8,187 10,240 13,662 13,033 Fuel Consumed (‘000 barrels) 2,606 2,311 2,660 3,657 3,456 Average Fuel Price (USD/barrel) 127.8 129.6 131.4 127.0 75.7 Number of Employees at Year End for MAAX 1,245 1,300 2,011 2,380 2,204 ANNUAL REPORT 2015 THE THIRD ISSUE FINANCIALS & OPERATIONALS AIRASIA X BERHAD AT A GLANCE 20

TOTAL RM ASK REVENUE 23,388 3,063 MILLION MILLION - 8% Y-o-Y CAGR* of 23% since 2009 on the back of capacity *Compounded annual growth rate management

EBITDAR REVENUE RM sen 2011 RM191 mil PER ASK

(RASK) 13.13 2012 RM308 mil

2013 RM339 mil

2014 RM342 mil

2011 2012 2013 2014 2015 2015 RM813 mil 10% Y-o-Y Increase

TOTAL COST ASSETS RM PER ASK (CASK) sen 4,182 13.75or MILLION 3.53 US centS 12% Y-o-Y Increase - 10% Y-o-Y from 3.94 US cents in FY2014 Remained the lowest unit cost airline in long haul segment

NET DEBT Reduced to RM AVERAGE FARE + 1,118 5% Y-o-Y as market rationalized in MILLION Second Half of 2015 from RM1,452 Million in FY2014 ANNUAL REPORT 2015 THE THIRD ISSUE SHARE PRICE AIRASIA X BERHAD PERFORMANCE 21

June 2015 - March 2016 (Month End Closing Price)

RM 0.290

0.245 0.250

0.210 0.205 0.205 0.195 0.180 0.180 0.155 0.135

0.070 0.070 0.055 0.055 0.055 0.050 0.045 0.040 0.045

Jun ’15 Jul ’15 Aug ’15 Sep ’15 Oct ’15 Nov ’15 Dec ’15 Jan ’16 Feb’16 Mar’16

Ordinary Shares Warrants

Ordinary Shares AVERAGE DAILY MARKET HIGHEST TRADING VOLUME CAPITALIZATION RM0.325 (on 7th March 2016) MIL RM 21 SHARES NO. OF OUTSTANDING SHARES 1.2 BIL LOWEST RM0.150 (on 25th August 2015) 4,148 MIL

Warrants HIGHEST ISSUE SIZE RM0.190 LISTING DATE (on 7th March 2016) TH 11 JUNE 2015 889 MIL

EXERCISE PRICE MATURITY DATE RM TH LOWEST RM0.035 8 JUNE 2020 (on 25th August 2015) 0.46 ANNUAL REPORT 2015 THE THIRD ISSUE AIRASIA X BERHAD 22 ANNUAL REPORT 2015 THE THIRD ISSUE AIRASIA X BERHAD 23 BOARD OF DIRECTORS

MILLION 10% Increase compared to FY15 TAN SRI RAFIDAH AZIZ [ Senior Independent Non-Executive Chairman ] BOARD OF DIRECTORS

DATUK KAMARUDIN BIN MERANUN [ Non-Independent Executive Director and Group Chief Executive Officer ] BOARD OF DIRECTORS

TAN SRI DR. TONY FERNANDES [ Non-Independent Non-Executive Director ] BOARD OF DIRECTORS

DATO' FAM LEE EE [ Non-Independent Non-Executive Director ] BOARD OF DIRECTORS

LIM KIAN ONN [ Independent Non-Executive Director ] BOARD OF DIRECTORS

DATO' YUSLI BIN MOHAMED YUSOFF [ Independent Non-Executive Director ] BOARD OF DIRECTORS

TAN SRI ASMAT BIN KAMALUDIN [ Independent Non-Executive Director ] ANNUAL REPORT 2015 THE THIRD ISSUE DIRECTOR'S AIRASIA X BERHAD PROFILE 31

TAN SRI RAFIDAH AZIZ DATUK KAMARUDIN BIN MERANUN TAN SRI DR. TONY FERNANDES Senior Independent Non-Executive Non-Independent Executive Director Non-Independent Chairman and Group Chief Executive Officer Non-Executive Director

Tan Sri Rafidah, Malaysian, aged 72, Datuk Kamarudin Bin Meranun, Tan Sri Dr. Tony Fernandes CBE, was appointed as an Independent Malaysian, aged 54, was appointed Non- Malaysian, aged 52, was appointed Non-Executive Director and Chairman Independent Non-Executive Director as a Non-Independent Non-Executive of the Board on 3 March 2011 and re- of the Company on 6 June 2006. He was Director of the Company on 18 July designated as a Senior Independent appointed as the Chairman of the Board 2006 and is one of the Company’s co- Non-Executive Chairman upon listing on 3 February 2010 till 3 March 2011. founders. of the Company on 10 July 2013. She Datuk Kamarudin was re-designated is also Chairman of the Nomination as Non-Independent Executive Director Tan Sri Tony graduated from the and Remuneration Committee of the and Group Chief Executive Officer London School of Economics. He was Board and Safety Review Board of the (“GCEO”) on 30 January 2015. He is admitted as an Associate Member of Company. one of the Company’s co-founders, the Association of Chartered Certified serves as Chairman of the Employees’ Accountants in 1991 and became a She holds a Bachelor of Arts degree Share Option Scheme Committee, and Fellow Member in 1996. He also received in Economics and a Master’s degree is a member of the Safety Review Board an Honorary Doctorate of Business in Economics from the University of of the Company. Innovation from Universiti Teknologi Malaya. Malaysia (UTM) in March 2010. Prior to joining the Company, Datuk She is Malaysia’s longest-serving Minister Kamarudin worked in Arab-Malaysian He was the Financial Controller at of International Trade and Industry, Merchant Bank from 1988 to 1993 Virgin Communications London having served in that capacity from as a Portfolio Manager. In 1994, he (1987-1989) before moving on to be 1987 to 2008, and contributes a wealth was appointed Executive Director of a Senior Financial Analyst at Warner of international experience. Innosabah Capital Management Sdn Music International London (1989- Bhd, a subsidiary of Innosabah Securities 1992), Managing Director at Warner Prior to this, she held the portfolio of Sdn Bhd. He subsequently acquired the Music Malaysia (1992-1996), Regional Minister of Public Enterprises from 1980 shares of the joint venture partner of Managing Director, Asean (1996-1999) to 1987 and Deputy Minister of Finance Innosabah Capital Management Sdn and Vice President, Asean at Warner from 1977 to 1980. Tan Sri Rafidah also Bhd, which was later renamed Intrinsic Music South East Asia (1999-2001). has experience lecturing at the Faculty Capital Management Sdn Bhd. of Economics and Administration at the In 1999, the Sultan of Selangor bestowed University of Malaya between 1966 and Datuk Kamarudin received a Diploma on him the title Setia Mahkota Selangor 1976. She now serves as an Adjunct in Actuarial Science from University for his contributions to the Malaysian Professor at the College of Business, Technology MARA (UiTM) and was music industry. He also received the University Utara Malaysia. named the Best Actuarial Student by Recording Industry Person of the Year the Life Insurance Institute of Malaysia in 1997 award from the Recording Industry She has received various awards from 1983. He received a BSc with Distinction Association of Malaysia. the states of Selangor, Perak, Melaka (Magna Cum Laude) majoring in and Terengganu as well as from Finance in 1986, and an MBA from Since launching AirAsia, he has Argentina and Chile. She has also Central Michigan University in 1987. received numerous state awards as well been conferred Honorary Doctorates as industry accolades. Within Malaysia, from University Putra Malaysia, University Datuk Kamarudin was awarded the he has been awarded the title Dato’ Utara Malaysia, University Tun Razak Darjah Panglima Jasa Negara (PJN), by the Sultans of Negeri Sembilan and Malaysia, the University of Malaya and which carries the title Datuk, from Pahang; Dato’ Seri by the Sultan of Dominican University of California, the Yang di-Pertuan Agong on 21 Perak; and Tan Sri from a former Yang United States of America. November 2013. di-Pertuan Agong. Internationally, he has been presented the title Officier of She also serves as Chairman of He is a Non-Independent Executive the Legion d’ Honneur, followed by the Megasteel Sdn Bhd, Supermax Chairman of AirAsia Berhad and a Non- Commander of the Legion d’Honneur, Corporation Berhad and Pinewood Independent Non-Executive Director of the highest rank of honour that the Iskandar Malaysia Studio and is the Tune Protect Group Berhad (formerly French Government can bestow on patron of several NGOs. known as Tune Ins Holdings Berhad). He non-French citizens. Later, he was is also a Director of Yayasan Pendidikan awarded the Commander of the Titiwangsa. Order of the British Empire (CBE) by Her Majesty Queen Elizabeth II. ANNUAL REPORT 2015 THE THIRD ISSUE DIRECTOR'S AIRASIA X BERHAD PROFILE 32

From the industry, he was presented In January 2013, Tan Sri Tony was named Dato’ Fam used to sit on the Board of the Airline Business Strategy Award a Malaysia Brand Ambassador by Prime Trustees of Yayasan PEJATI from 1996 to 2005 and Low Cost Leadership Award Minister Dato’ Sri Mohd Najib bin Tun 2007. Since 2001, he has also served by Airline Business, and named Asia Haji Abdul Razak at the World Economic as a legal advisor to the Chinese Pacific Aviation Executive by the Centre Forum in Davos, Switzerland. He went Guilds and Association and charitable for Asia Pacific Aviation (CAPA) for on to win Corporate Governance Asia’s organisations such as Yayasan SSL the years 2004 and 2005. He bagged Best CEO for Malaysia award - for the Heamodialysis Centre in PJ. The Brand Laureate Brand Personality third year in a row – in March 2013. Award in 2006 and 2007; was presented He also serves as a Senior Independent the CAPA Legend Award 2009 (Aviation He was named Airline Industry Leader Non-Executive Director of AirAsia Berhad. Hall of Fame); and the Airline CEO of of the Year at the 4th Aviation 100 the Year Award for 2009 from Jane’s Awards in January 2014, and Brand Transport Finance. Builder of the Year at the 2014 World LIM KIAN ONN Branding Awards. In 2015, he made it Independent Non-Executive Director In 2010, Tan Sri Tony was awarded onto 2015 TIME 100, the magazine’s the Nikkei Asia Prize in Tokyo and the annual list of the 100 most influential Mr. Lim, Malaysian, aged 59, was Masterclass Global CEO of the Year at people in the world. Most recently, he appointed as an Alternate Director to the 2nd Malaysia Business Leadership was recognised by the U.S. - ASEAN Dato’ Seri Kalimullah Bin Masheerul Award (MBLA). He was also named Business Council with the ‘Fourth Pillar’ Hassan on 11 June 2007. He ceased Forbes Asia Businessman of the Year award for his extraordinary contribution as an Alternate Director to Dato’ Seri 2010, the first Asean citizen to receive towards the growth of ASEAN. He is the Kalimullah and was appointed as the award. second recipient of the award after the a Non-Independent Non-Executive Administration of U.S. President Barack Director of the Company on 10 July In 2011, Tan Sri Tony was named one of Obama. 2012. Mr. Lim was re-designated as the most creative people in business Independent Non-Executive Director on by New York-based business magazine He is a Non-Independent Executive 26 February 2016. He is also a member Fast Company and was on its Top 10 Director and Group Chief Executive of the Audit Committee of the Board. Most Creative People in Twitter list. He Officer of AirAsia Berhad and a Non- was also named CEO of the Year at Independent Non-Executive Director of He is a member of the Institute of the Annual Budgies World Low Cost Tune Protect Group Berhad (formerly Chartered Accountants in England and Airline Awards held in London; and known as Tune Ins Holdings Berhad). Wales and the Malaysian Institute of CNBC Travel Business Leader of 2011 at Accountants. He served his articleship CNBC’s Travel Business Leaders Award with KMG Thomson McLintock in Asia Pacific held in Singapore. DATO’ FAM LEE EE London and was a consultant with Non-Independent Andersen Consulting from 1981 to 1984. In 2012, he was bestowed the Individual Non-Executive Director Between 1984 and 1993, he was with Achievement of the Year award at the Hong Leong Group, Malaysia as an 1st Malaysia Achievement Awards Dato’ Fam, Malaysian, aged 55, was Executive Director in the stockbroking 2012, organised by the Malaysia appointed as Non-Independent Non- arm responsible for corporate finance, Achievement Organisation (MACA). He Executive Director of the Company on research and institutional sales. Mr. Lim was also honoured with the Best CEO 24 March 2008. He is also a member founded the Libra Capital Group in for IR - Mid Cap award by the Malaysian of the Nomination and Remuneration 1994 and co-founded the ECM Libra Investor Relations Association Berhad Committee of the Board. Group in 2002. (MIRA); named as one of Malaysia’s outstanding CEOs by The Edge Billion He received his BA (Hons) in Law from the He was appointed to the Board of ECM Ringgit Club (BRC); and announced as University of Malaya in 1986 and an LLB Libra Financial Group Berhad (ECMLFG) GQ India’s International Businessman (Hons) from the University of Liverpool, on 16 June 2006 and re-designated of the Year 2012. England in 1989. Upon obtaining a as Managing Director with effect from Certificate of Legal Practice in 1990, he 1 May 2007, a position he held till 5 has been practising law since 1991 and August 2010. On 6 August 2010, he was is currently a senior partner at Messrs YF re-designated as Non-Independent Chun, Fam & Yeo. Non-Executive Director of ECMLFG. He was subsequently re-designated as Managing Director of ECMLFG with effect from 16 July 2015. ANNUAL REPORT 2015 THE THIRD ISSUE DIRECTOR'S AIRASIA X BERHAD PROFILE 33

He also serves as the Non-Executive Exchange. During the same period, he Industries Development Corporation Chairman of Plato Capital Limited, a also sat on the Board of the Capital and Perbadanan Johor. company listed on the Stock Exchange Market Development Fund and was of Singapore, and a trustee of ECM an Executive Committee member of He serves as the Non-Executive Libra Foundation. the Financial Reporting Foundation of Chairman of UMW Holdings Berhad, Malaysia. UMW Oil and Gas Corporation Berhad, Panasonic Manufacturing Malaysia DATO’ YUSLI BIN MOHAMED YUSOFF He also serves as an Independent Berhad and Compugates Holdings Independent Non-Executive Director Non-Executive Director on the Board Berhad, companies listed on the Main of Directors of a few public listed Market of Bursa Malaysia Securities Dato’ Yusli, Malaysian, aged 57, was companies in Malaysia namely YTL Berhad. He is also Non-Executive Vice appointed as an Independent Non- Power International Berhad, Mulpha Chairman of YTL Cement Berhad and Executive Director of the Company on International Berhad, Mudajaya Group a Director of Permodalan Nasional 13 May 2013. He is Chairman of the Berhad and Westports Holdings Berhad. Berhad, The Royal Bank of Scotland Audit Committee and a member of He also sits on the Board of Dato’ Berhad and JACTIM Foundation, all the Nomination and Remuneration HM Shah Foundation. Outside his public companies. Tan Sri Asmat is a Committee of the Board. professional engagements, he serves Governor of JACTIM and sits on the as the Patron of the Victoria Institution Boards of FMM and MAJECA. He has He graduated from the University of Old Boys Association. Currently, Dato’ also represented Malaysia for several Essex, United Kingdom with a Bachelor Yusli is the President of the Malaysian years as Governor on the Governing of Economics in 1981. He is a Member of Institute of Corporate Governance. Board of The Economic Research the Institute of Chartered Accountants Institute for Asean and East Asia. England and Wales, the Malaysian Institute of Accountants as well as an TAN SRI ASMAT BIN KAMALUDIN Honorary Member of the Institute of Independent Non-Executive Director Internal Auditors Malaysia. Tan Sri Asmat, Malaysian, aged 72, was He commenced his professional career appointed as an Independent Non- in 1981 as an Accountant with Peat Executive Director of the Company Marwick Mitchell & Co in London, since 13 May 2013. He is a member of United Kingdom. the Audit Committee.

He returned to Malaysia and held He graduated from the University Notes: various key positions in industrial of Malaya with a Bachelor of Arts and financial groups in the country’s (Honours) degree in Economics. He Family Relationship capital, providing him with experience also holds a Diploma in European None of the Directors has any family in a number of different industries Economic Integration from the University relationship with any other Director including property and infrastructure of Amsterdam. and/or major shareholder of AirAsia X. development, telecommunications, engineering and merchant banking. He has vast experience of 35 years Conflict of Interest in various capacities in the public None of the Directors has any conflict He entered the stockbroking industry service and his last post in the public of interest with AirAsia X Group. when he was appointed as Chief service was as the Secretary General Executive Director of CIMB Securities of the Ministry of International Trade & Conviction for Offences Sdn Bhd from 2000 to 2004. He also Industry Malaysia, a position he held None of the Directors has been served as Chairman of the Association since May 1992. In the last five years convicted for offences within the past of Stockbroking Companies Malaysia prior to his retirement in 2001, Tan Sri 10 years other than traffic offences, if from 2003 to 2004. Asmat served as a board member of any. Malaysia Technology Development From 2004 to 2011, he was the Executive Corporation, Multimedia Development Attendance of Board Meetings Director/Chief Executive Officer of Corporation, Malaysian Trade The attendance of the Directors at Board Bursa Malaysia Berhad, previously Development Corporation, Permodalan of Directors’ meetings is disclosed in the known as the Kuala Lumpur Stock Nasional Berhad, Small and Medium Statement on Corporate Governance. AWARD WINNING PRODUCTS ANNUAL REPORT 2015 THE THIRD ISSUE LEADERSHIP AIRASIA X BERHAD TEAM 36

Standing Left to Right :

FAIRUZ MAJID CAPTAIN LESLIE WU BENYAMIN ISMAIL Head of Communications Safety Director Chief Executive Officer

ASPA LINDA AHMAD CHEOK HUEI SHIAN Head of Cabin Crew Chief Finance Officer ANNUAL REPORT 2015 THE THIRD ISSUE LEADERSHIP AIRASIA X BERHAD TEAM 37

VENGGATARAO NIADU MOSES DEVANAYAGAM CAPTAIN SURESH BANGAH Head of Network and Regulatory Senior Director Flight Operations Director

EDWARD CHIEN YOGESH UPADHYAY Acting Financial Controller & Head of Corporate Finance, Charter Head of Quality Assurance and Leasing ANNUAL REPORT 2015 THE THIRD ISSUE LEADERSHIP AIRASIA X BERHAD TEAM 38

Standing Left to Right :

JAISHARAN KAUR GILL SHARMIZAN ABDUL GHANI JURVENA LEE NIAN-CHEH Head of In-flight Operations Head of Engineering Head of Marketing

YEOH SAI YEW ARIK DE Head of People Head of Commercial ANNUAL REPORT 2015 THE THIRD ISSUE LEADERSHIP AIRASIA X BERHAD TEAM 39

PAVENRAJ SINGH AMOS AW SHING CHIEN MUHAMMAD ALIF SOON Head of Ancillary Head of Revenue Management Head of Ground Operations

RAYMOND CHEONG ABDULLAH BIN HASHIM Head of Sales Head of Internal Audit and Risk Management ANNUAL REPORT 2015 THE THIRD ISSUE PROFILE OF THE AIRASIA X BERHAD LEADERSHIP TEAM 40

BENYAMIN ISMAIL He does not hold any directorship in He also spearheaded the move to Malaysian public companies, has no KLIA 2, a milestone for AirAsia X and AirAsia Chief Executive Officer family relationship with any director and/ Group, in 2014. Currently, Moses leads or substantial shareholder of the Company the coordination of operational functions Benyamin Ismail, Malaysian, aged 39, was and has no conflict of interest with the with the AirAsia Group, Airport authorities appointed as Chief Executive Officer on Company. He has not been convicted for and Government agencies including the 1 September 2015. offences within the past 10 years other Malaysian Aviation Commission. He has 44 than traffic offences, if any. Currently, he years of experience in the aviation industry, He joined AirAsia Berhad in March 2010 has no shareholdings in the Company. having worked at Malaysia-Singapore as the Head of Investor Relations, bringing airlines from 1971-1972 as an apprentice with him eight years of experience in and subsequently Malaysian Airline Investment Banking focusing on Debt System Berhad from 1972-2007, where Capital Markets. The Investor Relations CHEOK HUEI SHIAN Chief Financial Officer he held various key positions, including (IR) function had been set up by AirAsia General Manager-Operations, Head of CEO Aireen Omar, who recruited Ben to Cheok Huei Shian joined AirAsia X Berhad Contracts Management and Warranty spearhead the new unit. His role as the as Chief Financial Officer on 26 February and Contracts Manager. head of Investor Relations required wide 2015, bringing with her over 15 years of knowledge and understanding of the experience in finance and operations He has been an Associate Member of company, and made him answerable to management. the Royal Aeronautical Institute United the Group CEO, Group Deputy CEO, CEO Kingdom (by award) since 1975. He and CFO. On top of his main role at IR, Ben She was a part of the core team in the completed a cadet/apprentice technical also assisted the Corporate Finance and early days of AirAsia and over the years has services in-house training programme with Fuel Procurement unit. played an instrumental role in the success Malaysia-Singapore Airlines in 1972, and of AirAsia, including the Company’s listing type-rating courses at Qantas and Air New He played a critical role in AirAsia’s growth on Bursa Malaysia. She has also been a Zealand in 1971. into one of the most attractive companies key member of the turnaround team that on Bursa Malaysia in terms of transparency, oversees the entire AirAsia Group. investor returns and corporate governance. Engaging with domestic and international CAPTAIN SURESH BANGAH Since joining AirAsia in 2004, she has held Flight Operations Director broking houses, he created greater visibility senior leadership roles across the Group. of AirAsia which at one point was one of From 2011-2014, she served as the Chief Captain Suresh joined AirAsia X in October the most covered stocks, on the radar of Financial Officer of PT Indonesia AirAsia, 2010 as Chief Pilot, Operations. In October no less than 30 brokerages. where she played a key role in streamlining 2013, he was promoted to Flight Operations the finance function with AirAsia Berhad, Director responsible for coordinating, AirAsia was duly awarded Best Investor creating synergies between finance, supervising and monitoring the functions Relations Company and Best CEO four operations and marketing to support and performance of management years in a row by Corporate Governance strategic business objectives and drive personnel, pilots, cabin crew and all Asia, with Benyamin named the Best profitable growth. departments within Flight Operations. He Investor Relations Officer four consecutive is also responsible for the management of times. He also received the Best IR Prior to joining AirAsia, she was with Ernst safety and security of all flights operated Professional award in 2011 and 2012 & Young in the Financial and Advisory by AirAsia X. He acts as the liaison person by Bursa’s Malaysian Investor Relations Service Department. with local and international regulators Association (MIRA). in ensuring operations are in line with She is a fellow member of the Association the conditions and restrictions of the Air Before joining AirAsia, Benyamin worked of Chartered Certified AccountantsOperator Certificate. He also represents for three years in CIMB Investment Bank in (ACCA) and a member of the Malaysian the company's interest in national and Kuala Lumpur focusing on Debt Capital Institute of Accountants (MIA). international bodies and institutions as far Markets. Prior to CIMB, he was with Maybank as flight operations are concerned. Investment Bank and Affin Investment Bank handling their Debt Capital Market Captain Suresh began his career with portfolios. MOSES DEVANAYAGAM Senior Director the AirAsia Group in March 2003. Prior to AirAsia X, he was an internal auditor He holds a Bachelor of Commerce Moses joined AirAsia X in July 2007 as within Flight Operations at AirAsia Berhad (Banking & Finance) from Curtin University Director of Operations and is currently in 2005. In December 2009, he was made of Technology, Australia and a Master’s in our Senior Director. He was instrumental in a Cadet Pilot Coordinator to manage Electronic Commerce from Edith Cowan setting up the Operations function, which the Cadet Pilot Training Programme. Soon University, Australia. He represented Western includes Flight Operations, Engineering, after, he assumed the position of Flight Australia in the Rowing Nationals in his first Group Operations, In-Flight Operations Deck Recruitment Manager responsible two years at university and is currently and the Safety and Security functions. for hiring pilots of different entry levels, and active in football, basketball and muay promoting pilots internally. thai. ANNUAL REPORT 2015 THE THIRD ISSUE PROFILE OF THE AIRASIA X BERHAD LEADERSHIP TEAM 41

CAPTAIN LESLIE WU Arik, an avid traveller, holds a Master’s JURVENA LEE NIAN-CHEH in Finance and Public Policy from the Safety Director Head of Marketing University of Chicago. Captain Wu obtained his commercial pilot Jurvena joined AirAsia Berhad in 2011 as license from the US and Malaysia, and a Marketing Manager and quickly moved started serving commercial airlines in 1992, EDWARD CHIEN on to assume the position of Regional Acting Financial Controller & Head of becoming a commercial jet captain five Marketing Manager a year later. In 2015, Quality Assurance years later, in 1997. At the end of 2004, he she was promoted to Head of Marketing became a Deputy Chief Pilot Training. Later, for AirAsia X within the commercial Edward Chien joined AirAsia X Berhad as Captain Wu spent several years based in department. Her responsibilities include Head of Quality Assurance in June 2015 the Middle East, flying for Qatar Airways. leading the team in stimulating travel and assumed the role of Acting Financial demand for AirAsia X and working closely controller in December 2015. He assists Upon returning to Malaysia in mid-2009, he with partners and tourism bodies to achieve the leadership in managing the finance joined AirAsia X as Chief Pilot Flight Safety similar goals. Prior to her stint at AirAsia, she function with direct reporting to Chief and was subsequently made Safety Director was with one of the largest grocery retailers, Financial Officer. Prior to AirAsia X, Edward in 2012. As Safety Director, he is responsible Tesco Stores (M), where she acquired six was a Director at PwC Vietnam for five years for implementing and maintaining the years of marketing experience across a leading the Risk Consulting & Forensic Safety Management System for the entire range of portfolios including Advertising & team. He brings 20 years of experience company. Nevertheless, he still puts on Promotions and Local & Stores Marketing. acquired as a consultant and auditor his ‘wings’ to fly once or twice a month. Jurvena graduated with a Bachelor's at PwC Malaysia, Group Operations Risk Captain Wu holds a Diploma in Safety in Business from Auckland University of Manager at a Malaysian bank, Deputy Management for Airlines and a Diploma in Technology, New Zealand. Head of Programme Management at a Airline Quality System. Malaysian satellite TV broadcaster, and Chief Internal Auditor of a public listed RAYMOND CHEONG water treatment concessionaire. ARIK DE Head of Sales Head of Commercial Edward holds a Bachelor’s in Accounting Raymond joined AirAsia X Berhad in with honours from Universiti Utara Malaysia. Arik joined AirAsia X in January 2016 January 2013 as our Sales and Distribution He is a member of the Malaysian Institute as Head of Commercial. He is tasked Manager and was re-designated as of Certified Public Accountants (MICPA) with leading the commercial functions Head in 2015 with the key responsibility to and the Malaysian Institute of Accountants of the airline including our Network, lead and drive the sales and distribution (MIA); and a Chartered Member of the Revenue, Marketing, Ancillary, and Sales & of indirect channels, namely travel Institute of Internal Auditors (IIA) Malaysia. Distribution. agencies, general sales agents and global distribution systems. He plays a key Arik started his career at the International role in market introduction campaigns Monetary Fund (IMF) as a young SHARMIZAN ABDUL GHANI and setting up of offline trade distribution Head of Engineering economist. He subsequently acquired channels in new destinations including over 16 years of experience in aviation Adelaide, Chongqing, Xi’an, Narita, Sharmizan joined AirAsia X as Head of through work at WestJet in Canada, and Nagoya and Busan. He also played an Engineering in 2015, but is no stranger to being part of two of the largest aviation instrumental role in the distribution set- the AirAsia Group having previously held consulting firms - SH&E/ICF Aviation and up and market entry campaigns of Thai the post of Duty Engineer in AirAsia Berhad InterVistas. At WestJet, he led the network AAX in Japan and Korea and Indonesia from 2001-2007. His career in the aviation and fleet planning team to grow a primarily AAX in Australia. Raymond is also part of industry began in 1995 as a Trainee Aircraft domestic airline into the largest non-US the AirAsia Group Regional Sales Team Maintenance Engineer with Malaysia airline in the Caribbean, Hawaii and prime managing and overseeing the Australia, Airlines. By mid-1999, he became a US leisure points of Las Vegas and Florida. Japan and Korea offline channel sales for Licensed Aircraft Engineer with a Boeing He was also instrumental in evaluating the all carriers within the AirAsia Group. 737-400 rating and later obtained a Boeing first code share partnerships, and being 777-200 rating. After his tenure at AirAsia part of the core team that studied and Raymond was previously attached to Berhad, he left to join Jet Premier One as introduced WestJet Encore, the regional AirAsia Berhad leading the corporate an Avionics Duty Engineer in 2007 and was arm of WestJet. sales team and eventually taking on thereafter promoted to Technical Services regional roles in overseeing the sales Manager in 2009. In his consulting career, he was engaged in and distribution channels and the set- over 100 consulting projects in commercial up of AirAsia Travel & Service Centres in aviation including that at LAN, Aero Mexico, Indochina. He has more than 10 years’ Singapore Airlines, Jeju, SpiceJet, Air India, management experience in global sales, Gulf Air and Kuwait Airways. Most recently, international business development, he was designated the Chief Commercial regional distribution set-up and expansion Officer at TACV, the national airline of Cabo and key account management in the Verde. ANNUAL REPORT 2015 THE THIRD ISSUE PROFILE OF THE AIRASIA X BERHAD LEADERSHIP TEAM 42 aviation, telecommunications and fast he became the Regional Marketing VENGGATARAO NIADU moving consumer goods industries. In his Manager in 2012 and Head of Marketing Head of Network and Regulatory extensive career, he has developed and in 2013. Along with the company’s executed market penetration strategies, growth, Fairuz assumed positions of Venggatarao has been with AirAsia X new product introduction campaigns and greater responsibility, and in 2014, he since its inception in 2007. He joined the set up and trained sales teams in new was promoted to Head of Marketing and company when it was FlyAsianXpress in local and international markets. Communications overseeing AirAsia X’s 2006 during the Malaysian Aviation Route marketing strategies and communication, Rationalisation period, and was a member He graduated with a Bachelor of Arts public relations, events and sponsorship of the pioneering team that established (Hons) in Business Administration from the activities. Since 2015, his focus has been AirAsia X with the launch of the inaugural University of Hertfordshire, at Inti College targeted at communication as Head of flight to the Gold Coast in 2007. He took Malaysia. Communications for AirAsia X. He also on various cross-functional roles across supports regional communication efforts network and fleet planning, scheduling, by working closely with other AOCs in the regulatory affairs and operations before AirAsia and AirAsia X Groups. YEOH SAI YEW focusing on route planning and scheduling Head of People in 2011. AirAsia X went on to win Best Fairuz brings with him a decade of Network Performance by an Airline at the Yeoh has been with the AirAsia Group experience in the fields of marketing World Routes Awards in the same year and since 2010. As Head of People, he oversees and communication. His practice began currently holds the distinction of having all human resources deliveries. with one of Malaysia’s largest privately- the highest aircraft utilisation in the world. owned conglomerates, the Naza Group Yeoh brings with him 16 years of experience of Companies, where he underwent an In 2012, Venggatarao took on the gained from different disciplines in Human internship under the Pemuda Internship additional role of leading the charters Resources (HR) in diverse industries, Program (PINTAR). He was subsequently and leasing business, beginning with ranging from telecommunications to IT, offered a permanent job at the company, Kathmandu charters (ended in early banking, hospitality, aviation and retail. which he served for three years. 2014). He was appointed Group Head of During this time, he has managed the Network for the AirAsia X Group in 2014. In implementation of PeopleSoft and SAP Fairuz graduated from Universiti Teknologi 2015, his portfolio expanded and he took HR Management Systems (HRMS) in a MARA with a Bachelor in Business on an additional role in regulatory affairs. previous organisation as well as at AirAsia. Administration (Hons) Marketing.

Prior to AirAsia X, he was an internal auditor Prior to joining AirAsia Group, he was at Singer Malaysia, part of the Berjaya with Genting Resorts Berhad; CSA ABDULLAH BIN HASHIM Corporation umbrella, for nine years. Sdn Bhd, where he was involved in Head of Internal Audit and Risk Management Business Process Outsourcing; and DiGi Telecommunications Sdn Bhd, where he Abdullah was appointed Head of Internal YOGESH UPADHYAY successfully revamped and simplified Audit and Risk Management at AirAsia X in Head of Corporate Finance, Charter and the company’s benefits structure. Yeoh September 2014. He was formerly the Chief Leasing believes in enabling management to Internal Auditor of Petra Energy Berhad and achieve organisational objectives through immediately before that, served a short Yogesh joined AirAsia X in 2014 as Head of helping employees realise their potential. stint as Chief Internal Auditor of Syarikat Charter and Leasing. His primary function He also nurtures a culture of commitment Prasarana Negara Berhad. He has over 10 in this role is to maximise airline revenue to organisational success by streamlining years of internal audit experience covering by deploying excess fleet on wet lease individual performance with that of the a range of industries such as oil and operations and manage negotiations for company. gas, telecommunications, transportation, all charter and wet lease contracts. In the manufacturing and facilities management, same year, he took on an additional role He holds a Master’s of Business stemming from the start of his career within as Head of Ancillary until early 2015, and Administration from Universiti Utara the UEM Group. drove AirAsia X to be recognised as a Top Malaysia and has spoken at numerous HR 10 Global Airline for Ancillary Revenue per conferences across Southeast Asia. He obtained a Bachelor’s in Accounting Passenger by IdeaWorksCompany. with Honours from the University of Malaya in 1995 and a Master of Business With Yogesh's strong negotiation skills, Administration (MBA) from London South FAIRUZ MAJID aircraft knowledge and experience in the Head of Communications Bank University, London in 2007. Abdullah airline industry, he was then appointed as is a Chartered Accountant (Malaysia) Head of Corporate Finance in 2015, where Fairuz joined AirAsia Berhad in 2007 and registered with the Malaysian Institute of he leads negotiations with banks, head later moved to AirAsia X as part of the Accountants (MIA), a Certified Internal lessors and airliners for any corporate pioneering team, focused on driving Control Auditor certified by the Institute of exercise and aircraft related matter. the commercial department. He took Internal Control (IIC), and an Associate on the position of Sponsorship and Member of the Institute of Internal Auditors Events Manager in 2010, following which (IIA) Malaysia. ANNUAL REPORT 2015 THE THIRD ISSUE PROFILE OF THE AIRASIA X BERHAD LEADERSHIP TEAM 43

Prior to AirAsia X, he was Head of Operations (TAAX). In June 2015, he was appointed and cleaning and laundry services. for seven years at pay television company, Head of Revenue Management and also Prior to AAX, she was a test engineer at Eurostar Communications Llc, in Dubai. He Head of Group Revenue Management Memory Products and later attached to then joined the aviation sector as Head for the AirAsia X Group. During his time an Australian Electrical Company as part of Sales for Charters and Leasing at Air at AirAsia X, he has seen the Group grow of their Procurement & Contracts team. Charter International Arabia Ltd, Dubai for from celebrating its inaugural flight to the six years. Gold Coast in 2007 to setting up affiliates She holds a Degree in Electronic in Thailand and Indonesia. Engineering and Master of Supply Chain Management from RMIT University, MUHAMMAD ALIF SOON Amos brings with him a wealth of Melbourne. Head of Ground Operations experience in the aviation industry, having held positions at Cathay Pacific Alif has been with the AirAsia Group Melbourne Airport, Malaysia Airlines and since 2004, and is a proud recipient of Virgin Australia prior to joining the AirAsia the 10 Years Long Service Award. His Group. positive attitude and commitment to the job throughout his tenure are reflected Amos holds a Bachelor’s in Commerce in countless achievements leading to a majoring in Marketing and Management number of promotions, the latest being to at Deakin University, Victoria, Australia. Head of Ground Operations. In this role, he is responsible for driving and leading our team of Guest Service Assistants in PAVENRAJ SINGH improving our customers’ experience. Head of Ancillary Alif started as a Guest Service Assistant, manning the check-in counters and Paven began his journey with AirAsia X boarding gates. in December 2010 and was assigned the role of Head of Ancillary in 2015. His key responsibilities include driving ancillary ASPA LINDA AHMAD revenue through strategic partnerships, Head of Cabin Crew pricing and product enhancement while continuously raising awareness across the Aspa has over 19 years of experience in AirAsia X network to ensure growth. Paven the aviation sector. She began her journey also played an instrumental role in setting in AirAsia in 2002 as Cabin Crew and was up ancillary products and services for Thai quickly promoted to Senior Cabin Crew AirAsia X and Indonesia AirAsia X before in 2003, a Purser in 2005 and Cabin Crew their inception. Executive in 2009. In 2010, her journey with AirAsia X took off with a promotion to being Paven holds a Bachelor's in Accounting & the new Assistant Cabin Crew Manager. Information Technology from the Auckland University of Technology, New Zealand. Expanding her skills-set further, she joined the Cabin Safety Department as a Safety Examiner and was promoted to Cabin JAISHARAN KAUR GILL Safety Manager in 2012. She was chosen to Head of In-flight Operations lead the Cabin Crew Department in AirAsia X in 2015, responsible for empowering Jaisharan joined AirAsia X in May 2013 as more than 800 cabin crew execute their a Supply Chain Manager in the Quality best in customer service and safety. Assurance Department, responsible for the implementation of Axapta 2009 for Procurement and Inventory and setting up AMOS AW SHING CHIEN the airline’s supply chain processes. Head of Revenue Management She was subsequently promoted to Head Amos joined Revenue Management at of In-Flight Operations in August 2015, AirAsia Berhad in 2007 and later moved overseeing all in-flight operations and F&B to AirAsia X as part of the pioneering ancillary. She is responsible for developing team in driving the Revenue Department. the In-Flight menu, negotiating contracts In January 2014, he was promoted to as well as procurement and vendor Route Control Manager (RCM) while also management. She oversees the day-to- overseeing the start-up of Thai AirAsia X day in-flight operations including catering ANNUAL REPORT 2015 THE THIRD ISSUE AIRASIA X DESTINATIONS AIRASIA X BERHAD

FROM MALAYSIA TO THE world

CHINA JAPAN KOREA NEPAL SAUDI ARABIA INDIA TAIWAN ANNUAL REPORT 2015 THE THIRD ISSUE AIRASIA X DESTINATIONS AIRASIA X BERHAD worldTHAILAND, INDONESIA

AUSTRALIA NEW ZEALAND

Destinations as at 31st March 2016 AUSTRALIA AUSTRALIA AUSTRALIA GOLD COAST WEEKLY MELBOURNE WEEKLY SYDNEY WEEKLY KUALA LUMPUR > GOLD COAST KUALA LUMPUR > MELBOURNE 14X KUALA LUMPUR > SYDNEY 11X 7X Bali > Melbourne 5 X Bali > sydney 5 X

gold coast

sydney Melbourne

INSIDER TIPS CITY HIGHLIGHTS INSIDER TIPS CITY HIGHLIGHTS INSIDER TIPS CITY HIGHLIGHTS

Check out the Gourmet • SEA WORLD - Aquatic theme park with animal shows, Don’t miss the vintage- • STATE LIBRARY OF VICTORIA - Houses over 2 million Visit the Sydney Fish • SYDNEY OPERA HOUSE - Live show venue, Australia’s Farmer’s Market on waterslides and rollercoasters style city circle tram! It books, opened in 1854 Market for the freshest most famous landmark Mirage Street (every • CURRUMBIN WILDLIFE SANCTUARY - One of the operates for FREE within • ROYAL BOTANICAL GARDENS - Beautiful botanic seafood at great prices. • BONDI BEACH - Spectacular beach and coastline just Saturday morning). largest collections of Australian native species in the the CBD area. garden, overlooking Yarra River 8km from the city centre world • FEDERATION SQUARE - A popular meeting point in the • QUEEN VICTORIA BUILDING - A Victorian building • WARNER BROS MOVIE WORLD - Movie theme park with city, perfect for people watching completed in 1898, now a shopping mall rides and attractions • FLINDERS STREET STATION - Australia's first iconic • TARONGA ZOO - The 75-hectare zoo is home to • SKYPOINT OBSERVATION DECK - 230m-high deck with railway station, built in 1905 Australian's diverse and unique wildlife the best view of the city • BRIGHTON BEACH - Known as Dendi Street Beach and • BLUE MOUNTAIN - Famous for its dramatic scenery • BROADBEACH - Beach with golden sands and clear is well-known for the colourful bathing boxes and offers an enormous variety of activities water, near Surfer’s Paradise • HUNTER VALLEY - One of Australia's oldest wine • WET N WILD - The perfect way to enjoy a splashtacular regions developed in the early 19th century day out

AUSTRALIA new zealand CHINA PERTH WEEKLY AUCKLAND WEEKLY CHENGDU WEEKLY KUALA LUMPUR > PERTH 11X KUALA LUMPUR > gold coast > auckland 7X KUALA LUMPUR > CHENGDU 7X

auckland

perth chengdu

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Sample the best street • COTTESLOE BEACH - Beautiful beach with the best Take a little drive down • SKY TOWER - Tallest building in the southern For a true Chengdu • CHENGDU RESEARCH BASE OF GIANT PANDA food from around the beachfront café dining to Matamata for the Hemisphere experience, visit one of BREEDING - World’s largest panda breeding sanctuary world at the Twilight • FREMANTLE PRISON - Old prison complex and a Hobbiton Movie set, the • MOUNT EDEN - Magnificent volcanic crater, with the many teahouses and • JINSHA SITE MUSEUM - The museum cum excavation hawkers market UNESCO World Heritage site filming location for the spectacular city and harbour views relax like the locals. site contains the ruins of the 3,000-year-old Shu (every Friday night). • THE ART GALLERY OF WESTERN AUSTRALIA - Gallery Lord of The Rings trilogy. • AUCKLAND DOMAIN PARK - Houses the Auckland War Kingdom with fine indigenous art, founded in 1895 Memorial Museum • WENSHU MONASTERY - Chengdu’s largest Buddhist • KINGS PARK & BOTANIC GARDEN - 400-hectare park • VIADUCT HARBOUR - Famous for its shopping, temple, with an excellent vegetarian restaurant nearby with a sweeping view of the city skyline restaurant and buzzing night life • RIVER VIEWING PAVILION PARK - Park featuring over • WESTERN AUSTRALIA MUSEUM - Historical artifacts, a • CORNWALL PARK - Renowned for its landscape design, 150 varieties of bamboo must-see for the maritime archeology displayed at the centred on a volcanic cone, One Tree Hill • JINJIANG THEATER - Theater with daily Sichuan Opera Shipwreck Galleries performances and traditional dance and musical • LANCELIN - Sand dunes present an ideal playground shows for sand boarders, quad drivers, bikers and four-wheel drive owners CHINA INDIA SAUDI ARABIA BEIJING WEEKLY NEW DELHI WEEKLY JEDDAH WEEKLY KUALA LUMPUR > BEIJING KUALA LUMPUR > NEW DELHI KUALA LUMPUR > JEDDAh 10X 7X 4X jakarta > jeddah (seasonal) 2 X

new delhi beijing

jeddah

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Visit the Da Shanzi 798 • FORBIDDEN CITY - World’s largest palace complex Visit the Red Fort for its • HUMAYUN’s TOMB - The first of its kind in the Indian For a majestic view of • KHALIL ABDUL RAUF MUSEUM - The museum boasts Art District, Beijing’s with China’s largest collection of ancient buildings spectacular Mughal subcontinent with its grand mausoleum, splendid the Red Sea, visit the a large collection of items and artefacts belonging centre for contemporary • TIANANMEN SQUARE - One of the world’s largest architecture. gardens and pools White Al-Rahma Floating to the Ottoman Turks and tribes of fishermen who first art galleries. public squares at 440,000 sqm • QUTB COMPLEX - Tallest brick minaret in the world, Mosque. inhabited this region • PANJIAYUAN MARKET - Market selling handicraft, a UNESCO World Heritage Site • SILVER SANDS BEACH - Best place for a relaxing day curios and antiques • CHHATARPUR TEMPLE - Second largest Hindu temple in with books while soaking up the Arabian Sun • GREAT WALL OF CHINA - (BADALING SECTION), India • KING FAHD’s FOUNTAIN - Tallest seawater fountain in Popular section of the Great Wall close to Beijing • LOTUS TEMPLE - One of the most recognisable buildings the world • LAMA TEMPLE - Temple with decorative arches, in Delhi with 27 free-standing marble clad ‘petals’ • NASSIF HOUSE - A symbol of Jeddah’s glorious past tapestries and tantric statues • TAJ MAHAL - An ivory-marble mausoleum on the banks • SOUQ AL-ALAWI - Charming and buzzing marketplace of the Yamuna river in the city of Agra with true atmosphere of the old Jeddah

CHINA NEPAL SHANGHAI WEEKLY KATHMANDU WEEKLY KUALA LUMPUR > SHANGHAI 7X KUALA LUMPUR > KATHMANDU bangkok > shanghai 7 X 7X WHERE DO YOU WANT TO GO? kathmandu

shanghai CHINA JAPAN KOREA NEPAL SAUDI ARABIA

INDIA TAIWAN AUSTRALIA NEW ZEALAND

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Search for antiques • SHANGHAI MUSEUM - Museum with a wide collection If you’d like to visit Mount • ANNAPURNA - World’s most challenging terrains with and one-of-a-kind knick of paintings, seals, jade, Ming and Qing furniture Everest yet hiking is not diverse scenery and easy accessibility, as well as guest knacks on Dong Tai road. • TIANZIFANG - Area with shops selling everything from your cup of tea, take a houses sprawled across the hills FROM ,THAILAND,INDONESIA jewelry to retro communist dinnerware mountain flight to view • POKHARA - Natural paradise with rare combinations MALAYSIA • LONGHUA TEMPLE & PAGODA - The oldest and largest Earth’s most magnificent of snow clad peaks and snow-fed lakes and rivers monastery in Shanghai famed for its 6,500kg bell, cast natural marvels. • THAMEL - Bustling shopping and dining area of the city TO THE in 1894 • CHITWAN NATIONAL PARK - Nepal’s first national park, • ZHUJIAJIAO ANCIENT TOWN - Shanghai’s ‘Venice’ with listed as a UNESCO World Heritage Site in 1984 old buildings, water canals and gardens • THE BUND - An area with old buildings featuring Gothic, Baroque and other architectural styles world