AirAsia India losses widen in 3Q2016

AirAsia India revenue up 32% - financial highlights for three months ended 30-Sep-2016:

• Revenue: INR1751 million (USD26.2 million), +31.7% year-on-year;
• Costs: INR2452 million (USD36.6 million), +27.1%;
• • Fuel: INR922.1 million (USD13.8 million), +32.4%;
• Operating profit (loss): (INR663.3 million) (USD9.9 million), compared to a loss of INR589.9 million (USD9.1 million) in p-c-p;
• Net profit (loss): (INR621.2 million (USD9.3 million), compared to a loss of INR631.4 million (USD9.7 million) in p-c-p;
• Passenger numbers: 589,486, +42%;
• Load factor: 88%, +12 ppts;
• Revenue per ASK: INR208.68 sen (USD 3.12 cents), +4%;
• Cost per ASK: INR286.81 sen (USD 4.28 cents), -1%;
• Cost per ASK excl fuel: INR176.92 sen (USD 2.64 cents), -4%;
• Average stage length: 1155 km, -4%;
• Total assets: INR4019 million (USD60.0 million);
• Cash and short-term deposits: INR2447 million (USD36.5 million);
• Total liabilities: INR4974 million (USD74.3 million). [more - original PR]

*Based on the average conversion rate at INR1 = USD0.014935 for 3Q2016
*Based on the average conversion rate at INR1 = USD0.015404 for 3Q2015

AirAsia: "In India, the forecasted load factor for the third quarter of 2016 is at 84%. For the remaining quarter 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, 24-Nov-2016.