Kuala Lumpur: Capital A Bhd and AirAsia X Bhd's (AAX) shares rose after the release of their positive fourth-quarter financial year 2024 (4QFY24) operating statistics. At 12 pm, Capital A increased by four sen to 88 sen, ranking among the top active counters with 15.03 million shares traded, while AAX saw a two sen rise to RM1.76 with 484,000 shares changing hands.

According to BERNAMA News Agency, Public Investment Bank Bhd has maintained an 'outperform' call for both Capital A and AAX, with target prices of RM1.57 and RM2.47, respectively. It noted that Capital A's 4QFY24 operating statistics reveal that the international segment continued to experience robust demand and capacity growth. The passenger volume for the consolidated Aircraft Operating Certificate (AOC) operations in Malaysia, Indonesia, Philippines, Thailand, and Cambodia rose by 9.0 percent year-on-year (y-o-y) to 16.3 million. Correspondingly, the passenger load factor (PLF) held steady at 88 percent as demand matched a 10 percent y-o-y increase in capacity, leading to consistent earnings estimates.

Meanwhile, AAX reported a 20 percent y-o-y growth in traffic volume, aligning with a 20 percent y-o-y growth in Available Seat Kilometers (ASK). Consequently, its PLF remained unchanged at 82 percent y-o-y. This positive performance was driven by more aircraft returning to service, coupled with increased flight frequency in selected markets such as Australia, Japan, and South Korea during the peak travel season. Additionally, AAX launched flights to Chongqing in China and Nairobi in Kenya, marking its maiden venture into the African region. AAX is scheduled to release its 4QFY24 results and passenger yield data later this month.