AirAsia Group lowers Malaysia market recovery expectations

Reuters

Posted at Oct 26 2020 09:20 PM

KUALA LUMPUR - Malaysia's AirAsia Group Bhd has lowered its projected recovery rate in Malaysia to 60 percent of its pre-COVID-19 capacity by year-end, it said on Monday in its third-quarter operating statistics.

The airline in August had said it expected a 70-75 percent recovery in Malaysia by the last quarter.

AirAsia Group's biggest market, it said it saw a 52 percent increase in domestic capacity in September compared to 40 percent in July, but stricter curbs on movement in October due to rising COVID-19 cases had reined in growth.

It said it now expected a return to 45 percent of pre-pandemic capacity in Indonesia, up from a previous expectation of 35 percent, but lowered its view on India to 65 percent from 75 percent.

It is aiming for its Thai operations to exceed pre-COVID-19 capacity levels.

Group load factor - a measure of how full its planes are - grew 7 percentage points in September versus July, the group said, without providing further detail.

It said passengers carried in that period increased by 36 percent for Malaysia, 79 percent for India and 65 percent for Thailand.

(Reporting by Liz Lee; editing by Jason Neely)