Malaysia-based online travel agent AirAsia MOVE saw its revenue eased to MYR 112 million ($27.13 million) from MYR 129 million ($31.24 million) a year ago on softer flight volumes due to AirAsia pricing challenges.
Its holding firm Capital A said in a statement on last Friday that the impact was partly offset by stronger ancillary performance.
Overall, the platform engagement remained healthy in the third quarter, with stable monthly active users (MAUs), steady installs and net promoter score (NPS) holding at 57, up 10 percentage points year on year.
SNAP and hotels transactions grew over 40 percent year on year — with budget-friendly inventory and sharper personalization driving a 32 percent year on year improvement in cross-sell rate to flight users — while duty free pre-book conversion nearly tripled on-year to 1.9 percent.
AirAsia flights held broadly level, recording a modest 2 percent quarter-on-quarter increase in gross booking value (GBV) and 3 percent quarter on quarter uptick in bookings despite pricing pressure.
Efforts to restore AirAsia Flights price advantage are ongoing, while disciplined cost control kept earnings before interest, taxes, depreciation, and amortization (EBITDA) positive at MYR 12.3 million ($2.98 million).
“The third quarter underscored the resilience of our model. Despite softer flight volumes, we saw strong momentum across hotels, duty-free and ancillary, validating our budget-first strategy,” AirAsia MOVE’s Chief Executive Officer Nadia Zahir Omer said.
“We continue to build a social-led online travel agency (OTA) that drives organic demand at lower cost, reflected in rising engagement, higher conversion and improved NPS,
“With strengthened partnerships across regional airlines and hotel groups, plus a unified code base lifting speed and efficiency, we’re positioning MOVE to deliver high-quality growth with profitability firmly at the center,” she added.
Meanwhile, Capital’s A logistics arm Teleport reported a net profit of MYR 8.3 million ($2.01 million) for the third quarter, a positive year on year turnaround of MYR 13.3 million ($3.22 million), with management focused on delivering profitability across all levels.
Its EBITDA rose to MYR 32 million ($7.75 million), growing 45 percent year on year and 28 percent quarter on quarter, with EBITDA margin expanding 2.4 percentage points to 10 percent.
This margin improvement demonstrates operating leverage, as growth and control of fixed costs lead to improved profitability.
Teleport also delivered its strongest third quarter revenue performance since inception at MYR 312 million ($75.56 million), up 9 percent year on year and 22 percent quarter on quarter.
Its revenue growth was fueled by a 69 percent year on year jump in eCommerce revenue to MYR 116.4 million ($28.19 million), delivering a 16 percent increase in tonnage moved to 90,357 tons and a 109 percent year on year surge in parcels moved to 44.8 million, reinforcing Teleport’s position as the leader in ASEAN by total tonnage moved by air.
Furthermore, the successful SGD51 million refinancing led to a 7 percent year on year reduction in financing costs amounting to MYR 630,000 ($152,579), unlocking capital for Teleport to secure strategic long-haul capacity while it concludes its capital raise exercise.
“Our ability to deliver net profitability whilst growing our business by 9 percent in the third quarter validates the resilience of our eCommerce-first strategy, and proves that we can scale profitably,
“As we close out the year, we will capitalize on our third quarter momentum by focusing on moving more volume out of China through increased capacity and reach of our 50-plus airline partners,” Teleport’s Chief Executive Officer Pete Chareonwongsak said.
“Our successful debt refinancing provided the necessary capital to secure capacity for the rest of 2025,
“The next step for Teleport will be to close its equity capital raise by the fourth quarter to accelerate our push for global scale (2 million parcels per day), and grow our network beyond Southeast Asia and Asia-Pacific,” he added.
Malaysia’s AirAsia MOVE achieves lower revenue in second quarter