Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
11,940.1055.6
Stock Analysis, IPO, Mutual Funds, Bonds & More

AirAsia India revenue up, losses treble to Rs 65 crore in September quarter

The airline posted a loss of 41.3 million Malaysian Ringitt (Rs 65 crore), compared with 15.7 million Malaysian Ringitt (Rs 24.71 crore) a year earlier.

, ET Bureau|
Nov 28, 2015, 04.00 AM IST
0Comments
AirAsia India posted a loss of 41.3 million Malaysian Ringitt (Rs 65 crore), compared with 15.7 million Malaysian Ringitt (Rs 24.71 crore) a year earlier.
AirAsia India posted a loss of 41.3 million Malaysian Ringitt (Rs 65 crore), compared with 15.7 million Malaysian Ringitt (Rs 24.71 crore) a year earlier.
MUMBAI: AirAsia India almost trebled its quarterly losses in July-September over the previous year, making it formidable for the carrier to make good Tony Fernandes’ claims that it will post a net profit in the December quarter.

The airline posted a loss of 41.3 million Malaysian Ringitt (Rs 65 crore), compared with 15.7 million Malaysian Ringitt (Rs 24.71 crore) a year earlier. AirAsia posted a net loss of Rs 44.15 crore in the April-June quarter. The numbers came in despite revenues doubling on year to Rs 131.2 crore. The airline carried 4,16,182 passengers during the quarter, up 225 per cent on year while its capacity increased 221 per cent to 5,45,760 seats. Load factors increased only 1 percentage point to 76 per cent showing the airline has not been able to garner enough demand for its flights.

Fernandes, the CEO of AirAsia Berhad which owns 49 per cent in the company, had said earlier this month that the airline will post a net profit in the October-December quarter.

"There is only one profit in my mind and that is net profit," he had said adding the airline has been successful in keeping costs down, although it has kept itself small with a fleet of just five planes. AirAsia's other units in Malaysia, Indonesia, Philippines and Japan also posted losses in the July-September quarter with only Thai AirAsia clocking a profit.

Also Read

AirAsia India plans to start multiple flights connecting Ahmedabad

AirAsia India plans to take fleet size to 100 in five years

Give ownership undertaking to fly abroad, govt to AirAsia India

High average fares help AirAsia India trim quarterly loss

PMO raises query over AirAsia India’s international rights

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service