Thursday, September 05, 2019

AirAsia India reports positive EBITDA in June quarter, a first since its inception

AirAsia India has for the first time in its short history recorded a positive operating profit or earnings before interest, tax, depreciation and amortisation (EBITDA) in the quarter gone by. The joint venture airline between AirAsia Berhad and Tata Sons reached the milestone in the June quarter of 2019.

The airline, which began its India operations in 2014, posted an EBITDA of Rs 112 crore compared to a negative EBITDA of Rs 48.4 crore in the same quarter a year ago.

AirAsia India posted a revenue of Rs 904 crore in the June quarter, a 39 percent increase year-on-year.

"The increase in revenue was mainly due to a 25 percent increase in number of passengers carried. Average fare and unit passenger revenue increased by eight percent and seven percent, respectively," the airline's parent said in a recent statement.
The strong earnings helped the airline narrow down its loses by 74 percent to Rs 15.1 crore in the June quarter. Its domestic market share increased by one percentage point to seven percent in these three months.
05/09/19 Prince Mathews Thomas/
To Read the News in full at Source, Click the Headline


Post a Comment