AAX - Annual Report 2018 (Part 2).Pdf
The Digital Airline GCEO’S Statement DEAR VALUED SHAREHOLDERS, It is an honour and privilege to present this statement as Group CEO of AirAsia X, a position to which I was appointed at the beginning of November 2018. An honour because in assuming my position I am stepping into the shoes of not just one but two great Asean aviation leaders – Tan Sri Tony Fernandes and Datuk Kamarudin Meranun, who founded AirAsia X and were co-Group CEOs before me. And a privilege because AirAsia X is the pioneering long-haul low-cost airline in the region, stimulating demand where previously there was none, winning countless awards as we make millions of exciting travel dreams come true. hen Tony and Kamarudin set up AirAsia X 11 years ago, many said the airline would never take off. A low-cost carrier for short-haul flights – yes. But, low-cost for long haul – it has never been done before! Yet AirAsia X has proven the Wsceptics wrong. It took a few years to fine-tune our model; however, in 2016, we finally did it – we achieved our first full-year of profit. We repeated the feat in 2017, demonstrating it was not just a one-off. In 2018, unfortunately, we experienced a setback. But this was mainly due to factors beyond our control, such as the 28% increase in fuel cost, currency volatility, natural disasters in the markets we serve, and general elections in Malaysia, which is our home base and where most of our routes originate. Despite these challenges, 2018 marked a year of growth.
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