• Thai AirAsia carried 5.5 million guests in 4Q2024, achieving 8% YoY growth with an 89% load factor.
• Total guests carried in 2024 reached 20.8 million, reflecting a 10% YoY increase with a strong 91% load factor.
• Total fleet expanded to 60 aircraft, including five Airbus A321neos, with six more set to arrive in 2025.

BANGKOK, 13 February 2025 - Asia Aviation Plc (“AAV”), the sole shareholder of Thai AirAsia (“TAA”), has announced operating statistics for the fourth quarter and the financial year 2024 of TAA.

OPERATING HIGHLIGHTS OF THAI AIRASIA

Thai AirAsia (TAA) demonstrated remarkable resilience and growth throughout 2024, reinforcing its position as a market leader in Thailand. The airline achieved outstanding operational performance, expanded its domestic and international networks, and met key milestones, including fleet expansion, while continuing to drive tourism and connectivity across the region.

In 4Q2024, TAA carried 5.5 million guests, reflecting an 8 percent year-on-year (“YoY”) increase and achieving a strong load factor of 89 percent. Domestic markets remained a key driver, with 3.5 million guests carried—a 13 percent YoY growth—despite the impact of flooding in the northern region at the start of the quarter. The domestic load factor remained solid at 91 percent, resulting in TAA retaining its position as the market leader with a 39 percent market share. During the quarter, two new routes were introduced: the cross-regional Phuket-Udon Thani route and the northern connection Don Mueang-Lampang.

In 4Q2024, international operations served 2.0 million guests, maintaining the same level as the previous year, with a load factor of 85 percent. The airline expanded its network with six new international routes, including Don Mueang to Gaya and Hyderabad (India), Phu Quoc (Vietnam), and Kathmandu (Nepal), as well as Phuket to Kolkata (India) and Siem Reap (Cambodia).

For the full year 2024, TAA carried a total of 20.8 million guests, representing a 10 percent YoY increase. This comprised 13.1 million domestic guests, up 11 percent YoY, and 7.7 million international guests, up 10 percent YoY. The airline achieved a record-high load factor of 91 percent for the year. Compared to 2019, domestic guest numbers have shown remarkable progress and returned to pre-COVID levels, while the recovery of international guest numbers, now reaching 85 percent of pre-COVID figures, was primarily driven by guests from India, Vietnam, and Taiwan, following the addition of routes and increased flight frequencies to meet strong tourism demand. For flights between China and Thailand, guest numbers saw a gradual improvement, remaining at 50 percent of 2019 levels as Chinese travellers tended to focus on domestic tourism.

The growth of Thai AirAsia aligns with the overall expansion of the country's tourism industry. According to statistical data from the Tourism Authority of Thailand (TAT), in 4Q2024, Thailand welcomed a total of 9.5 million international tourists during the high season, marking a 17 percent increase compared to 4Q2023. This brought the total number of arrivals for the year to 35.5 million, in line with the Tourism Authority of Thailand’s (“TAT”) targets. The top five visitor nationalities were Chinese (6.7 million), Malaysian (5.0 million), Indian (2.1 million), South Korean (1.9 million), and Russian (1.7 million). Looking ahead to 2025, TAT forecasts a full recovery to pre-COVID levels, with total tourist arrivals expected to reach 40 million. On the other hand, domestic tourism continued to show a positive trend throughout the year.

In 2024, TAA successfully achieved its target fleet size of 60 aircraft, adding four new aircraft compared to the previous year. By the end of 2024, the airline had 56 aircraft in active operations.

For further inquiries:

For Investor Relations:

Siraphop Paphatthananan

Email: taa_investorrelations@airasia.com

For Media:

Nuttawut Jitardharn

Email: taa_communications@airasia.com

For more information about Asia Aviation Public Company Limited (AAV), please visit the company's website: www.aavplc.com.