Air Asia (2630) Investor presentation summary

H1 financial performance

• Net revenue was NT$2,643,507 thousand in 2025H1 and NT$2,095,551 thousand in 2026H1; gross profit was NT$286,671 thousand and NT$177,881 thousand, respectively.

• Operating expenses were NT$124,623 thousand in 2025H1 and NT$134,517 thousand in 2026H1; operating profit was NT$162,048 thousand and NT$43,364 thousand, respectively.

• Profit before tax was NT$142,832 thousand in 2025H1 and NT$30,515 thousand in 2026H1; net income was NT$114,338 thousand and NT$24,186 thousand, with EPS of NT$0.55 and NT$0.12, respectively.

Government contract portfolio

• Main government business spans GOCO, GOCO Songshan, OH-58D, TH-67, CH-47SD, NASC, UH-60M and NASC King Air contracts, with the timeline extending through 2033.

MRO market outlook

• Average global fleet age rose from 13.4 years in 2024 to 14.8 years in 2025, with delays in new aircraft deliveries supporting MRO demand.

• Heavy airframe maintenance follows an 8–12-year cycle; demand growth is forecast to accelerate from 0.6% in 2026–2031 to 2.5% in 2031–2036.

• Global MRO demand is forecast to grow at a 2.8% CAGR in 2026–2031; expansion efforts focus on Asia and opportunities in Australia.