Despite route cuts and lower frequencies, Malaysia-based long-haul low cost-carrier (LCC) AirAsia X (AAX) saw its load factors drop to 74% in the first quarter of 2015 from 86% in the first quarter of 2014. "Profitability in 2014 was affected mainly by tragic aviation incidents, an irrational price war and overcapacity,” said AirAsia X Group CEO Datuk Kamaruddin Meranun, who said that current bookings are in line with expectations for a recovery "in the second half of ...

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