AirAsia In­dia loss down to Rs25 crore

The Pak Banker - - COMPANIES/BOSS -

Losses at AirAsia In­dia nar­rowed to Rs.25.65 crore in the De­cem­ber quar­ter from Rs.61.15 crore in the pre­ced­ing three months on the back of an in­crease in av­er­age fares and an­cil­lary rev­enue, the lo­cal unit of Malaysia's AirAsia Bhd said on Fri­day.

AirAsia In­dia is a joint ven­ture in which AirAsia Bhd holds 49%, Tata Sons Ltd 41% and Arun Bha­tia of Te­lestra Trade­place Pvt. Ltd the rest.

AirAsia In­dia recorded a 232% in­crease in rev­enue to Rs.208 crore and saw strong ca­pac­ity growth of 133% yearon-year (YoY), AirAsia said in a state­ment.

Av­er­age fares in­creased by 12% to Rs.3,626 while an­cil- lary rev­enue per pas­sen­ger grew by 133% to Rs.492.

"Our op­er­a­tions in In­dia are geared to grow fur­ther af­ter a year in ser­vice as we be­lieve our low fares and ex­cel­lent prod­uct ap­peals to trav­ellers in In­dia who re­main un­der­served by air travel.

Load fac­tor im­proved to 84% amid height­ened com­pe­ti­tion by other play­ers while to­tal pas­sen­gers car­ried in­creased 134% YoY to 0.51 mil­lion pas­sen­gers car­ried," said Tony Fer­nan­des, group chief ex­ec­u­tive of­fi­cer at AirAsia Group Bhd.

Fer­nan­des added that AirAsia In­dia will wit­ness a new phase of growth, work to­ward keep­ing costs un­der check and have an in­creased fo­cus on an­cil­lary rev­enue.

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