High average rates help AirAsia India to cut quarterly loss

New Delhi, September 3 () The loss of the low-cost airline AirAsia India before taxes was reduced to 15.1 million rupees in the three months to June, mainly due to the higher average fare and the increase in the number of passengers.

The airline, a joint venture between Tatas and AirAsia Berhad of Malaysia, had a pre-tax loss of Rs 61.82 rupees in the same period last year.

In a recent presentation to the Malaysian stock exchange, AirAsia Berhad said that AirAsia India recorded a total income of Rs 904.74 rupees in the last quarter of June.

Revenue is approximately 39% higher than the amount recorded during the same period a year ago.

The loss before taxes is reduced to Rs 151.1 million compared to Rs 618.2 million in 2Q18, attributable mainly to the higher average fare, load factors and the number of passengers transported, the presentation said.

During the June quarter of 2019, the average fare and revenue per unit of passengers increased by 8% and 7%, respectively.

The group recorded a net profit of RM46.8 million for the quarter under review, a 54 percent decrease against the net gain of RM101.6 million in the immediately preceding quarter ending March 31, 2019, mainly due to recognition of the previous share of the associated losses of AirAsia India, said the presentation.

In the three months ended June 2019, the airline transported more than 22.86 lakh passengers. At the end of June this year, the carrier had 21 planes in its fleet. RAM IAS RAM MR MR