45. COVID-19 PANDEMIC (CONT’D.) (c) Capacity and Network Management and Marketing Activities With the airline recent developments, in the fourth quarter of 2021 the Aviation Group carried 2.7 million passengers and recorded the highest load factor of 80% since the beginning of the pandemic and a year-to-date load factor of 74%. The performance indicated a V-shaped resumption of travelling demand in domestic market in 2021. The Group is well positioned to serve the pent-up leisure travel demand with the revision the business plans and marketing supports given the right operating environment and reasonable actions by key stakeholders. During the first quarter of 2022, the Aviation Group have been bringing more aircraft out of hibernation as travel restrictions gradually ease, in order to meet strong pent-up demand. The Group implements continuous flight capacity and network revenue management in response to global travel resumption and the current progressive uplifting of travel restriction by the respective countries. This can be seen through effective fleet management, with management making timely decisions to either reinstate flights or hibernate the fleet as and when necessary. The capacity of the flights moves in tandem with local regulatory requirements and developments of the active COVID-19 cases of the corresponding flight destinations. The Group consistently monitors the route profitability and concentrates its recovery on the most profitable and popular routes. Due to this uncertainty, the Group had and will continue to adjust future available capacity to match observed booking trends for future travel to optimise the load factors of each flight. The Group believes that all these signs point towards regional air travel returning to a certain degree of normalcy within the year and that international air travel will recover rapidly throughout 2022 and the years ahead. 3 1 4 Notes to the Financial Statements (cont’d.) for the financial year ended 31 December 2021 C A P I T A L A B E R H A D
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