Air Asia Philippines cuts net loss to P1.2b
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The Philippine unit of Southeast Asia’s largest budget airline said it reduced net loss by 12 percent in the third quarter on higher passenger traffic.
Air Asia Philippines said net loss amounted to P1.2 billion in July to September, down from the P1.4-billion loss it reported a year ago.
Revenues increased 24 percent to P2.57 billion in the third quarter from P2.07 billion in the same period last year.
“The increase in revenue can be attributed to higher passenger volumes which increased by 8 percent year-on-year and the increase in average fare by 21 percent year-on-year,” Air Asia Philippines said.
Passengers carried by AirAsia Philippines increased 8 percent to 976,765 from last year’s 901,957, while load factor went down by 1 percentage point to 83 percent from 84 percent.
Questions & Answers
Q.How much was Air Asia Philippines' net loss in the third quarter of this year?
How much was Air Asia Philippines' net loss in the third quarter of this year?
Air Asia Philippines recorded a net loss of P1.2 billion for the July to September period this year. This figure represents a 12 percent reduction compared to the P1.4 billion loss reported in the same quarter last year.
Q.What was the total revenue generated by Air Asia Philippines during the third quarter?
What was the total revenue generated by Air Asia Philippines during the third quarter?
The airline's revenue for the third quarter reached P2.57 billion. This is a 24 percent increase from the P2.07 billion revenue reported during the equivalent period in the previous year.
Q.What factors contributed to the increase in Air Asia Philippines' revenue?
What factors contributed to the increase in Air Asia Philippines' revenue?
The rise in revenue is primarily due to an 8 percent increase in passenger volumes compared to last year. Also, the average fare charged by the airline saw a significant 21 percent increase year-on-year.
Q.Did Air Asia Philippines carry more passengers in the third quarter compared to last year?
Did Air Asia Philippines carry more passengers in the third quarter compared to last year?
Yes, the number of passengers carried by Air Asia Philippines rose by 8 percent to 976,765. This is an increase from the 901,957 passengers transported in the same period of the previous year.
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