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Airasia X Berhad (734161-K) the Digital Airline What’S

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Airasia X Berhad (734161-K) the Digital Airline What’S The Sixth Issue / Annual Report 2018 NOW EVERYONE CAN FLY XTRA LONG... AirAsia X Berhad (734161-K) The Digital Airline what’s AIRASIA X BERHAD AAX_AR/18inside 3 Vision 85 Group Quarterly Financial FINANCIAL STATEMENTS 4 Mission Performance 148 Directors’ Report 7 Values 86 Investor Relations 152 Statements of Profit or Loss 10 Thank You Allstars 89 Share Price Performance 153 Statements of Comprehensive 12 Key Highlights 90 Market Capitalisation Income 17 About Us 92 AirAsia X Thailand: 154 Statements of Financial Position Master of Japan Network 18 AAX Group Destinations 158 Consolidated Statement of 93 AirAsia X Indonesia: Changes in Equity 20 AirAsia X Group & AirAsia Group Ceased Scheduled Flight Network 159 Statement of Changes in Equity Operations 24 Corporate Structure 160 Statements of Cash Flows 94 Corporate Milestones 25 Corporate Information 162 Notes to The Financial 100 2018 Corporate Events Statements 27 Shareholders’ Benefit 106 Media Highlights Programme 232 Statement by Directors 108 Sustainability Statement 28 Board of Directors 232 Statutory Declaration 110 Safety Always Our Priority 30 Our Board at A Glance 233 Independent Auditors’ Report 112 Innovation to get from Good 31 Directors’ Profiles 238 Analysis of Shareholdings to Great 38 The Chief Executive Officers 239 List of Directors’ Shareholdings 113 Rewarding & Developing 240 List of Top 30 Largest 40 Leadership Team Our Talent Shareholders 42 Profiles of the Leadership Team 115 Creating A Healthy 241 Analysis of Warrant Holdings 60 AirAsia X Thailand Leadership Environment 242 List of Directors’ Warrant Team 118 Serving Our Community Holdings 64 GCEO’s Statement 119 Risk Management 243 List of Top 30 Largest Warrant 68 CEO’s Management Discussion & 122 Corporate Governance Overview Holders Analysis Statement 244 Corporate Directory 78 Business Model 128 Statement on Risk Management 246 Notice of Annual General 80 Five-Year Financial & Operational & Internal Control Meeting Highlights 134 Audit Committee Report 249 Glossary 81 Key Performance Indicators 136 Additional Compliance 82 Simplified Group Statement of Information • Form of Proxy Financial Position & Segmental 142 Code of Business Conduct Analysis inside an incredible journey Go online to our website at: www.airasiax.com NOTICE OF ANNUAL GENERAL MEETING th THEME The Digital Airline 13ANNUAL GENERAL MEETING OF AIRASIA X BERHAD RATIONALE WHERE Digitalisation is key to delivering great flying experiences. And at AirAsia X, we are extending CAE Kuala Lumpur Lot PT25B, Jalan KLIA S5, our leadership into the digital space by Southern Support Zone, harnessing technology to optimise processes, Kuala Lumpur International Airport, introduce new business models, improve revenue 64000 Sepang, Selangor Darul Ehsan, streams and increase market reach. Best of all, Malaysia technology also greatly enhances our guests’ experience. WHEN With 31 destinations across Asia, Australia Wednesday, 26 June 2019 and the USA to choose from, we are eager to engage with our guests to give them a more personalised digital experience and TIME to distinguish our brand in an increasingly 10.00 a.m. competitive market. Together with the dedication and passion of our awesome team of Allstars, we are confident of AirAsia X taking to the skies as the digital airline of the future. Annual Report 2018 1 The Digital Airline 2 AirAsia X Berhad (734161-K) TO BE THE LARGEST LOW COST AIRLINE IN ASIA AND serving billion the 3people WHO ARE CURRENTLY UNDERSERVED WITH POOR CONNECTIVITY AND HIGH FARES. Annual Report 2018 3 The Digital Airline To be the best company to work for 1 whereby employees are treated as part of a big family CREATE A GLOBALLY RECOGNISED 2 ASEAN BRAND 3 To attain the lowest cost so that everyone can fly with AirAsia Maintain the highest quality 4 product, embracing technology to reduce cost and enhance service levels 4 AirAsia X Berhad (734161-K) Annual Report 2018 5 The Digital Airline 6 AirAsia X Berhad (734161-K) Dare to Dream PROGRESS COMES FROM INNOVATION. BOTH REQUIRE CHANGE TO HAPPEN. People First CARE FOR OUR PEOPLE, CARE FOR OUR GUESTS. Make it Happen LEARN FAST AND DELIVER MORE WITH LESS. Be Guest-Obsessed UNDERSTAND DEEPLY WHAT OUR GUESTS WANT. THEN GIVE THEM MORE THAN THEY EXPECT. One AirAsia WE ARE ONE AIRLINE, WITH ONE VISION, AND ONE PEOPLE. Safety Always SAFETY IS EVERYONE’S RESPONSIBILITY, IT STARTS WITH YOU. Annual Report 2018 7 The Digital Airline FROM US : From left to right: Benyamin Ismail Nadda Buranasiri Tan Sri Tony Fernandes Datuk Kamarudin Meranun 10 AirAsia X Berhad (734161-K) Annual Report 2018 11 The Digital Airline key AIRASIA X MARKET SHARE TO DESTINATIONS WE OPERATE INTO AirAsia X Malaysia (Operate From Malaysia) Passenger Share Australia Greater China South Korea Japan 60% 55% 68% 44% Network No. of Routes AirAsia X Malaysia = 25 (excluding JED & MED) 3 AirAsia X Thailand = 6 AirAsia X Indonesia = 1 No. of Hubs (as at 31 December 2018) KEY MILESTONE Unique Routes Routes Launched (as at 31 December 2018) AirAsia X AirAsia X Malaysia = 9 AirAsia X Malaysia = 6 World’s Best Low-Cost Airline AirAsia X Thailand = 0 AirAsia X Thailand = 2 Premium Cabin for the sixth year running AirAsia X Indonesia = 0 AirAsia X Indonesia = 0 Stations No. of Destinations No. of Countries No. of Flights Per (as at 31 December 2018) Week-Average AirAsia X Malaysia = AirAsia X Malaysia = 25 7 220 AirAsia X Malaysia (excluding JED & MED) (excluding JED & MED) AirAsia X Thailand = 6 AirAsia X Thailand = 3 77 AirAsia X Thailand AirAsia X Indonesia = 1 AirAsia X Indonesia = 1 2 AirAsia X Indonesia Social Media subscribers as at 31 Mar 2019 12,027,088 26,600,000 299,753 3,530 20,227 7,946,904 1,374,710 120,597 8,005 24,535 1,694,390 1,990,143 12 AirAsia X Berhad (734161-K) FINANCIAL HIGHLIGHTS (MAAX) No. of Aircraft Revenue: Operating Loss: RM4.6 (RM204) 35 billion million Net Loss: Total Assets: AirAsia X Malaysia AirAsia X (RM301) RM4.3 6,167,465 Malaysia million billion 24 AirAsia X Thailand AirAsia X 2,009,813 Thailand PASSENGERS CARRIED 9 AirAsia X Indonesia AirAsia X Indonesia 8,593,205 415,927 2 AirAsia X Malaysia AirAsia X Thailand AirAsia X Indonesia IATA: D7 IATA: XJ IATA: XT CALL ICAO: XAX ICAO: TAX ICAO: IDX SIGNS Call Sign: Call Sign: Call Sign: XANADU EXPRESS WING RED PHOENIX No. of Allstars (as at 31 December 2018) AirAsia X Malaysia = 2,427 Load Factor AirAsia X Thailand = 750 AirAsia X Group AirAsia X Malaysia = 81% AirAsia X Indonesia = 135 (excluding JED & MED) 24 AirAsia X Thailand = 89% Allstar AirAsia X Indonesia = 71% nationalities Notes: 1) All figures eferr to AirAsia X Group unless stated otherwise. 2) AirAsia X Group includes AirAsia X Malaysia, AirAsia X Thailand and AirAsia X Indonesia. 3) Financials refer to AirAsia X Berhad's 2018 audited financial statements. 4) All figures provided are as at 31 December 2018. 5) Source of Market Share: PaxIs, based on number of passengers carried from January to December 2018. Annual Report 2018 13 The Digital Airline PASSENGERS CARRIED 8,593,205 NO. OF AIRCRAFT 35 16 AirAsia X Berhad (734161-K) Based on our breakthrough business model, we believe we have the lowest unit cost base of any long-haul airline in the world, with cost per available seat kilometre (CASK) of US¢3.20 and CASK (excluding fuel) of US¢1.95 for the year ended 2018. irAsia X Berhad (AirAsia X) is a Based on our breakthrough business leading long-haul, low-cost airline model, we believe we have the lowest Aoperating primarily in the Asia- unit cost base of any long-haul airline in Pacific region. Established as Fly Asian the world, with cost per available seat Express (FAX) in 2006, we started out kilometre (CASK) of US¢3.20 and CASK servicing rural areas of Sarawak and Sabah (excluding fuel) of US¢1.95 for the year with turboprop aircraft before undergoing ended 2018. This enables us to offer a comprehensive rebranding in September fares that are targeted, on average, to 2007 followed by our first flight to the Gold be 30% to 50% lower than full-service Coast, Australia in November 2007. carriers and to stimulate new market demand. Today, AirAsia X as a Group serves 31 destinations across Asia (Bali, Sapporo, On top of that, AirAsia X offers a Quiet Tokyo, Osaka, Nagoya, Fukuoka, Seoul, Zone on all flights across our network. Busan, Jeju, Taipei, Xi’an, Beijing, The service enhancement is exclusively Hangzhou, Chengdu, Shanghai, Chongqing, for guests above the age of 12. The Changsha, Tianjin, Wuhan, Lanzhou, New Quiet Zone features soft lighting and a Delhi, Jaipur and Amritsar), Australia more relaxed cabin atmosphere, which (Sydney, Melbourne, Perth, Brisbane and help to ensure a more pleasant journey. the Gold Coast), the Middle East (Jeddah and Medina) and the United States of AirAsia X was voted as having the America (Hawaii) from two hubs: Kuala World’s Best Low-Cost Airline Premium Lumpur and Bangkok. We are the first low- Cabin for six consecutive years while cost airline in Asean to be given approval the AirAsia Group was named the by the Federal Aviation Administration to World’s Best Low-Cost Airline for 10 operate into USA. consecutive years at the Skytrax World Airline Awards. As at 31 December 2018, we have a core fleet of 35 Airbus A330-300 aircraft including 11 in our affiliates – nine in AirAsia X Thailand and two in AirAsia X Indonesia. Annual Report 2018 17 The Digital Airline AAX Group destinations (as at 12 March 2019) 18 AirAsia X Berhad (734161-K) AIRASIA X MALAYSIA NETWORK AUSTRALIA CHINA JAPAN SOUTH KOREA Gold Coast Beijing Tokyo (Haneda) Seoul Melbourne
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