AirAsia India trebled quarterly losses in July-September over previous year
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.
The airline posted a loss of 41.3 million Malaysian Ringitt (Rs 65 crore) compared to 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 416,182 passengers during the quarter, up 225% on year while capacity increased 221% to 545,760 seats. Load factors however only increased 1 percentage point to 76% showing the airline isn't able to garner enough demand for its flights.
Fernandes, the CEO of AirAsia Berhad which owns 49% 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 5 planes.
AirAsia's other units in Malaysia, Indonesia, Phillipines and Japan alsop posted losses in the July-September quarter with only Thai AirAsia clocking a profit. Fernandes didn't comment on the results and AirAsia India CEO Mittu Chandilya didn't respond to messages.