AirAsia India December quarter revenue doubles YoY
, ET Bureau|
Feb 27, 2018, 07.54 PM IST
New Delhi: AirAsia India Ltd has doubled its revenues to Rs 517 crore during the October-December quarter in 2017 from Rs 270 crore during the corresponding period in 2016 on the back of growth in passenger numbers as well as capacity, AirAsia Berhad CEO Tony Fernandes announced today.
“Our associate airline in India has grown tremendously, achieving 79% passenger growth and 80% increase in capacity in 4Q17 as compared to 4Q16. For FY2017, passengers carried grew 81% on the back of 80% increase in capacity as compared to FY2016. We are proud to announce that our India operations have more than doubled the revenue for 4Q17 to INR5.17 billion (Rs 517 crore) from INR2.70 billion (Rs 270 crore) in 4Q16,” Fernandes was quoted in a release on Air Asia Berhad’s annual results.
AirAsia India has 14 aircraft as of December 31, 2017. “We will be adding 7 aircraft for our India operations by the end of 2018 to fulfil the strong air travel demands. We will launch our international and regional routes with the 21st aircraft this year. We foresee AirAsia India to be very profitable once we start flying regional routes and connecting them to our already established wide network,” Fernandes was quoted as saying on Indian operations in the release.
Meanwhile, AirAsia India today announced the induction of its 16th aircraft in its fleet and addition of Nagpur and Indore to its list of destinations. The airline currently flies to 17 destinations.
“Our associate airline in India has grown tremendously, achieving 79% passenger growth and 80% increase in capacity in 4Q17 as compared to 4Q16. For FY2017, passengers carried grew 81% on the back of 80% increase in capacity as compared to FY2016. We are proud to announce that our India operations have more than doubled the revenue for 4Q17 to INR5.17 billion (Rs 517 crore) from INR2.70 billion (Rs 270 crore) in 4Q16,” Fernandes was quoted in a release on Air Asia Berhad’s annual results.
AirAsia India has 14 aircraft as of December 31, 2017. “We will be adding 7 aircraft for our India operations by the end of 2018 to fulfil the strong air travel demands. We will launch our international and regional routes with the 21st aircraft this year. We foresee AirAsia India to be very profitable once we start flying regional routes and connecting them to our already established wide network,” Fernandes was quoted as saying on Indian operations in the release.
Meanwhile, AirAsia India today announced the induction of its 16th aircraft in its fleet and addition of Nagpur and Indore to its list of destinations. The airline currently flies to 17 destinations.
