Friday, August 25, 2017

AirAsia India net loss at Rs 140 crore for FY17

New Delhi: AirAsia India seems to jave started its ascent towards profitability, reporting a narrower loss for the fiscal year through March 2017.

The budget airline credited increased capacity and pricing strategy for the improved performance.

It posted a net loss of Rs 140 crore for the previous fiscal, which was 23% less than almost Rs 182 crore it reported in fiscal 2016. Revenue rose nearly 45% to Rs 952 crore.

The joint venture of Malaysia’s AirAsia Berhad and India’s Tata Sons that started operations in June 2014, continued to make losses in a market that is the fastest growing in the world. At the end of March, it had accumulated losses of Rs 485 crore.
25/08/17 Mihir Mishra/Economic Times