AirAsia India March quarter loss narrows to Rs7.8 crore
AirAsia India says during the March quarter, average fare rose steadily by 12% to Rs3,155 per passenger; ancillary revenue per passenger grew by 115%
Mumbai: On the back of higher passenger load, the low-cost carrier AirAsia India on Thursday said it further narrowed its net loss in the March quarter to ₹ 7.86 crore, while revenue soared 179% to ₹ 196 crore.
The airline had reported a net loss of ₹ 26 crore in the December quarter and ₹ 65 crore in the July-September period.
The airline, a joint venture between the Malaysian parent and the Tata group, said the improvement in bottom line was driven by strong capacity growth of 110%.
AirAsia India began operations in June 2014 and is not a publicly traded company.
In the December quarter, the airline had reported lower losses at ₹ 26 crore while its revenue grew 232% to ₹ 208 crore and capacity by 133%.
The airline said during the March quarter, the average fare rose steadily by 12% to ₹ 3,155 while ancillary revenue per passenger grew by 115% to ₹ 502. Total passengers carried rose 127% to 0.54 million.
AirAsia group chief executive Tony Fernandes said the airline is gaining traction among air travellers as seen from strong load, which rose to an all-time high of 86% amid stiff competition. Going forward, Fernandes said, as India is a key growth market for the airline and with a brilliant start to 2016 he foresees the momentum sustaining through the rest of the year.
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