AirAsia India remains in the red in 2016

AirAsia India revenue up 30% - financial highlights:

• Three months ended 31-Dec-2016:
• • Revenue: INR2696 million (USD40.0 million), +29.8% year-on-year;
  • Costs:
  • • Fuel: INR1069 million (USD15.8 million), +45.6%;
    • Labour: INR470.8 million (USD7.0 million), +36.2%;
  • Operating profit (loss): (INR102.4 million), compared to a loss of INR256.5 million (USD3.9 million) in p-c-p;
  • Net profit (loss): (INR152.7 million) (USD2.3 million), compared to a loss of INR248.7 million (USD3.8 million) in p-c-p;
  • Passengers: 792,132, +56%;
  • Passenger load factor: 86%, +2 ppts;
  • Revenue per ASK: INR 272.45 sen (USD 4.0 cents), -3%;
  • Cost per ASK: INR 281.54 sen (USD 4.2 cents), -10%;
  • Cost per ASK excl fuel: INR 173.55 sen (USD 2.6 cents), -19%;
  • Average stage length: 1001 km, -18%;
• 12 months ended 31-Dec-2016:
• • Revenue: INR8252 million (USD122.7 million), +58.6%;
  • Costs:
  • • Fuel: INR3644 million (USD54.1 million), +59.4%;
    • Labour: INR1582 million (USD23.5 million), +27.0;
  • Operating profit (loss): (INR1424 million) (USD21.2 million), compared to a loss of INR1634 million USD25.5 million) in p-c-p;
  • Net profit (loss): (INR1447 million) (USD21.5 million), compared to a loss of INR1661 million (USD25.9 million) in p-c-p;
  • Passengers: 2.5 million, +68%;
  • Passenger load factor: 86%, +5 ppts;
  • Revenue per ASK: INR 245.24 sen (USD 3.6 cents), -2%;
  • Cost per ASK: INR 287.31 sen (USD 4.3 cents), -13%;
  • Cost per ASK excl fuel: INR 179.03 sen (USD 2.7 cents), -18%;
  • Average stage length: 1147 km, -6%;
  • Total assets: INR4736 million (USD70.4 million);
  • Cash and short-term deposits: INR3482 million (USD51.8 million);
  • Total liabilities: INR4898 million (USD72.8 million). [more - original PR]

*Based on the average conversion rate at INR1 = USD0.014824 for 4Q2016
*Based on the average conversion rate at INR1 = USD0.014867 for 2016
*Based on the average conversion rate at INR1 = USD0.015584 for 2015
*Based on the average conversion rate at INR1 = USD0.015167 for 4Q2015

AirAsia: "In India, the forecast load factor for the first quarter of 2017 is at 89%. For the remaining quarters of 2017, 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, 23-Feb-2017.