AirAsia India losses widens in 1Q2018 as fuel costs more than double

AirAsia India reported (24-May-2018) the following financial highlights for the three months ended 31-Mar-2018:

• Revenue: INR4832 million (USD75.0 million), +75.5%;
• Costs: INR5952 million (USD92.4 million), +76.1%;
  • Fuel: INR2428 million (USD37.7 million), +133%;
  • Labour: INR826.1 million (USD12.8 million), +22.1%;
• Operating profit (loss): (INR966.6 million) (USD15.0 million), compared to a loss of INR542.4 million (USD8.1 million) in p-c-p;
• Net profit (loss): (INR974.3 million) (USD15.1 million), compared to a loss of INR426.4 million (USD6.4 million) in p-c-p;
• Passengers: 1.5 million, +74%;
• Revenue per ASK: INR 273.08 sen (USD 4.2 cents), stable;
• Cost per ASK: INR 327.91 sen (USD 5.1 cents), +1%;
• Cost per ASK excl fuel: INR 190.72 sen (USD 3.0 cents), -15%;
• Average stage length: 1000km, stable;
• Total assets: INR4544 billion (USD70.5 million);
• Cash and short term deposits: INR2072 billion (USD32.2 million);
• Total liabilities: INR5334 billion (USD82.8 million). [more - original PR]

*Based on the average conversion rate at INR1 = USD0.01552 for 1Q2018
*Based on the average conversion rate at INR1 = USD0.014913 for 1Q2017