AirAsia Indonesia reports significant reduction in 2Q2016 loss

AirAsia Indonesia revenue down 30% - financial highlights for three months ended 30-Jun-2016:

• Revenue: IDR887.4 million (USD66.6 million), -30.0% year-on-year;
• Operating costs: IDR941.7 million (USD70.6 million), -43.3%;
• • Fuel: IDR292.0 million (USD21.9 million), -50.9%;
• Operating profit (loss): (IDR54.3 million) (USD4.1 million), compared to a loss of IDR395.2 million (USD30.0 million) in p-c-p;
• Net profit (loss): (IDR63.4 million) (USD4.8 million), compared to a loss of IDR486.4 million (USD37.0 million) in p-c-p;
• Passenger numbers: 1.2 million, -28%;
• Load factor: 83%, +10 ppts;
• Average fare: IDR586,234 (USD43.97), -4.1%;
• Revenue per ASK: IDR435.21 (USD 3.26 cents), +2.7%;
• Cost per ASK: IDR476.70 (USD 3.58 cents), -18.8%;
• Cost per ASK excl fuel: IDR333.49 (USD 2.50 cents), -14.0%;
• Average stage length: 1304 km, +5%. [more - original PR]

*Based on the average conversion rate at IDR1 = USD0.000075 for 2Q2016
*Based on the average conversion rate at IDR1 = USD0.000076 for 2Q2015

AirAsia Group: "In Indonesia, load factor in the third quarter of 2016 is forecast at 92% which is due to the high season demand. For the remaining quarters of 2016, IAA will continue to focus on promoting international routes." Source: Company statement, 29-Aug-2016.