Despite a tumultuous period from 2008 to 2011 in global aviation, AirAsia X has expanded from one aircraft to fifteen, breaking the RM1 billion revenue mark in 2010, in its third full year of operations, and RM2 billion revenue in 2012. In July 2013, AirAsia X became a public-listed company with a market capitalization of RM3 billion (~US$1 billion), the first ever long-haul LCC airline to do so. It has carried about 10 million passengers since inception, an average 70% average annual growth rate.