Low cost carrier AirAsia India has reduced its net loss to Rs. 20.36 crore for the June quarter of the financial year. It was Rs. 44.15 crore during the same time in the previous fiscal. The airline's revenues have increased to Rs. 188.92 crore.
"India is progressing very well in the past few quarters. Load factor has again posted a record high which demonstrates our guests' preference for flying with us," Tony Fernandes, AirAsia's group chief executive officer said in a statement.
"This is also reflected in the total passengers carried which increased by 76 per cent YoY to 0.53 million passengers. Despite being a new airline, it is worth AAI's CASK (cost per available seat-kilometre) is much lower as compared to its peers in that market," he added.
Chennai-based AirAsia India's current domestic market share is 2.2 per cent.
Earlier in the month, AirAsia India had announced induction of the seventh Airbus A-320 to its fleet. The airline is also working on new routes to expand its network. AirAsia India, which is a tie-up between Malaysian carrier AirAsia Berhad and Tata Sons, had recently added Hyderabad in its network of destinations.
The airline's new plane will operate on the routes of Bangalore-Guwahati, Bangalore-Hyderabad and Hyderabad-Goa. The 180-seater capacity plane will begin operations from September 22, the company said.
AirAsia India also plans to expand its fleet size over the next few months so that it can begin flying overseas. At a press conference in Bengaluru, chief executive Amar Abrol also said that the airline will receive a new round of funding from its two parent firms AirAsia Berhad and Tata Sons.
