Malaysian long-haul low-cost carrier AirAsia X is looking at adding two Airbus A330-200s to its fleet to grow its wet lease operations.
"We are currently in discussions with the view of potentially extending our wet lease arrangements," the airline said in a draft initial public offering prospectus lodged with Malaysia's Securities Commission in May.
"As a result we are currently contemplating leasing an additional two A330-200s to be similarly wet leased. Such a leasing arrangement is pending further discussions and is subject to the execution of a lease agreement."
Flightglobal's Ascend Online database shows that the two A340s are on wet lease to Saudi Arabian Airlines until December this year. AirAsia X says that it intends to continue sub-leasing them until their leases expire in 2015.
AirAsia originally leased the A340s to serve routes from Kuala Lumpur to London and Paris, but has since used the aircraft on charters and wet leases to other carriers since it withdrew those services in March last year.
AirAsia X also operates 12 A330-300s and has orders for another 17 of that type, and 10 A350-900s.
In 2010, the airline ordered three A330-200s and took options on a further two of that type. However, it later converted one of those into an order for the A330-300, while it says the other two -200s have been disposed of to third parties.
Financial records in the prospectus show that revenue from its charter services grew from ringgit (M$) 4.2 million ($1.41 million) in 2011 to M$67.8 million in 2012, representing 3.5% of the airline's revenue for that year. During the first quarter of 2013, its charter revenue came in at M$15.6 million.