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


You can switch off notifications anytime using browser settings.
The Economic Times

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

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.
Stay on top of business news with The Economic Times App. Download it Now!