AirAsia PH incurs P392M loss in Q1
The Philippine unit of Southeast Asia’s largest budget airline suffered a net loss of P391.98 million in the first quarter, a reversal of the P29.4 million profit reported in the same period last year due to higher costs.
While revenues jumped 46.percent tp P5.27 billion, this was not enough to offset the increase in expenses.
AirAsia transported 1.61 million passengers from January to March, up 39 percent year on year. It posted a load factor of 87 percent, five percent lower than the previous year.
AirAsia operates several flights to/from Manila, Davao, Kalibo, Caticlan (Boracay), Tacloban, Tagbilaran (Bohol), Puerto Princesa (Palawan), Clark, and Iloilo in the Philippines with international flights to/from Shanghai, Taipei, Incheon (Seoul), Hong Kong, Macau, Kuala Lumpur, Kota Kinabalu, Guangzhou, Vietnam, Indonesia and Singapore.
International routes include Kuala Lumpur, Singapore, Taipei, Incheon, Shenzhen and Hangzhou.
Philippines Air Asia operates a fleet of 17 aircraft with domestic and international flights out of hubs in Manila, Cebu and Kalibo.