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AirAsia reduces net loss in 2015

In a report, AirAsia said Philippines AirAsia reduced by 46 percent its net loss to P3.09 billion in 2015 from P5.76 billion in 2014. Philstar.com/File

MANILA, Philippines – The local unit of AirAsia Berhad trimmed its losses in 2015.

In a report, AirAsia said Philippines AirAsia reduced by 46 percent its net loss to P3.09 billion in 2015 from P5.76 billion in 2014.

The carrier’s revenues grew 18 percent to P8.93 billion last year from P7.54 billion in 2014.

The growth in revenues was attributed to the uptick in passenger volume which rose 19 percent to 3.59 million in 2015 from the 3.03 million a year earlier.

AirAsia said the airline’s capacity went up three percent to 4.46 million in 2015 from 4.33 million in 2014.

For the October to December period, Philippines AirAsia narrowed its net loss to P118.8 million in 2015 from P1.3 billion in the same period in 2014.

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The airline’s revenues grew 51 percent to P2.29 billion in the fourth quarter of 2015 from P1.52 billion in the comparable period in 2014.

The carrier had a total of 871,225 passengers in the last quarter of 2015, 47 percent higher than the 593,836 passengers in the same period in 2014.

For this year, AirAsia expects  Philippines AirAsia to turnaround its losses as it expects continued improvement in revenues.

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