27-May-2016 10:40 AM

Indonesia AirAsia operating loss narrows significantly in 1Q2016 as it right-sizes fleet and network

Indonesia AirAsia revenue down 24% - financial highlights for three months ended 31-Mar-2016:

  • Revenue: IDR907.3 billion (USD67.1 million), -23.5% year-on-year;
  • Costs:
    • Fuel: IDR322.3 billion (USD23.8 million), -44.3%;
  • Operating profit (loss): (IDR82.7 billion) (USD6.1 million), compared to a loss of IDR388.7 billion (USD30.3 million) in p-c-p;
  • Net profit (loss): IDR21.9 billion (USD1.6 million), compared to a loss of IDR530.8 billion (USD41.4 million) in p-c-p;
  • Passenger numbers: 1.2 million, -24.7%;
  • Passenger load factor: 80%, +10 ppts;
  • Average fare: IDR609,512 (USD45.1), +0.9%;
  • Revenue per ASK: IDR429.6 (USD 3.2 cents), +3.9%;
  • Cost per ASK: IDR468.82 (USD 3.5 cents), -14.6%;
  • Cost per ASK excl fuel: IDR316.20 (USD 2.3 cents), -9.0%;
  • Average stage length: 1309 km, +8%;
  • Total assets: IDR3195 billion (USD236.5 million);
  • Cash and short-term deposits: IDR136.0 billion (USD10.1 million);
  • Total liabilities: IDR5822 billion (USD430.8 million). [more - original PR]

*Based on the average conversion rate at IDR1 = USD0.000074 for 1Q2016
*Based on the average conversion rate at IDR1 = USD0.000078 for 1Q2015

AirAsia Group: "On the outlook for IAA in 2Q16, load factor has surpassed our targets for April and we are seeing a similar trend for May and June. Average fare has dipped slightly in April against last year's result but the gap is expected to narrow for May and June. We are on track to achieve a load factor of 82% in the second quarter of the year and forecast loads to sustain above 80% for the third quarter. IAA is set to re-group and expand once again on international routes where we are the strongest," Tony Fernandes, CEO. Source: Company statement, 26-May-2016.

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