Malaysia's AirAsia could be bigger than SIA, Cathay Pacific in 2008
SINGAPORE (XFN-ASIA) - AirAsia, the budget carrier launched five years
ago with two aircraft, says it could be bigger than Asian giants
Singapore Airlines and Cathay Pacific by next year, reports quoted its
CEO Tony Fernandes as saying.
"I'd imagine we'd be the largest airline in Asia by passenger size by 2013 or 2014," The Business Times quoted Fernandes as saying. "In fact by next year, we could be bigger than Singapore Airlines and Cathay Pacific in terms of passenger carriage."
Fernandes said in November that AirAsia expects to carry at least 16 mln passengers in the financial year to June 2007, up from 9.31 mln previously.
In October, Singapore Airlines reported that it flew a record 9 mln passengers during the first half of the 2006-2007 financial year. If AirAsia surpasses SIA and Cathay Pacific in passenger numbers, "the only airlines bigger than us would be Qantas, two Japanese airlines and a Chinese airline," the Today newspaper quoted him as saying. He was referring to the Australian flag carrier as well as Japan Airlines, All Nippon Airways and Air China.
Fernandes brought budget air travel to Southeast Asia with his short-haul low-cost formula but last Friday he surprised the aviation industry by announcing a new budget airline for long-haul routes. Fernandes said AirAsia X would take off in July with flights to the UK for as little as 9.99 rgt, or less than 3 usd.
The airline will be operated by Malaysian carrier Fly Asian Express (FAX), also founded by Fernandes. It currently provides rural air services on Borneo island.
Fernandes said he expects AirAsia X to carry 500,000 passengers in its first year of operation, and was looking to acquire 20 new aircraft -- either the Boeing 777-300 or Airbus A330-300, both of which are twin-aisle jets.
Singapore financial weekly The Edge this week quoted Fernandes as saying AirAsia X will help expedite his dream of creating the world's biggest airline group.
"Within the next seven years, I am convinced we will be the world's largest airline with 50 mln passengers a year," Fernandes was quoted as saying.