AirAsia India losses improve in 2Q2016

AirAsia India revenue up 74% - financial highlights for three months ended 30-Jun-2016:

• Revenue: INR1899 million (USD28.4 million), +73.5% year-on-year;
• Operating costs: INR2075 million (USD31.0 million), +35.4%;
• • Fuel: INR765.5 million (USD11.4 million), +50.2%;
  • Aircraft operating lease: INR373.2 million (USD5.6 million), +168%;
• Operating profit (loss): (INR176.1 million) (USD2.6 million), compared to a loss of INR438.7 million (USD6.9 million) in p-c-p;
• Net profit (loss): (INR203.6 million) (USD3.0 million), compared to a loss of INR467.7 million (USD7.4 million) in p-c-p;
• Passenger numbers: 533,050, +76%;
• Load factor: 87%, +4 ppts;
• Average fare: INR3138 (USD46.9), -4.1%;
• Revenue per ASK: INR 247.89 sen (USD 3.70 cents), -9.9%;
• Cost per ASK: INR 270.25 sen (USD 4.04 cents), -29.1%;
• Cost per ASK excl fuel: INR 169.81 sen (USD 2.54 cents), -32.9%;
• Average stage length: 1258 km, +10%. [more - original PR]

*Based on the average conversion rate at INR1 = USD0.014945 for 2Q2016
*Based on the average conversion rate at INR1 = USD0.015775 for 2Q2015

AirAsia Group: "In India, the forecasted load factor for the third quarter of 2016 is at 88%. For the remaining quarters of 2016, AirAsia India will remain focused on building a footprint in the Indian domestic market with the introduction of new routes and frequency increases." Source: Company statement, 29-Aug-2016.