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Business News/ Companies / AirAsia India March quarter loss narrows to Rs7.8 crore
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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%

Photo: MintPremium
Photo: Mint

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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Published: 27 May 2016, 12:37 AM IST
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