AirAsia's Revenue Soars 97 Percent to Rp4.9tn in Q3/2023

TEMPO.CO, Jakarta - PT AirAsia Indonesia Tbk (IDX: CMPP) recorded a significant spike in revenue growth ahead of the year-end. At the end of September, the budget airline posted a 97-percent revenue growth to Rp4.9 trillion, year on year (yoy).

"This increase can be attributed to full recovery from the impact of the pandemic and increasing public interest in travel," AirAsia Indonesia president director Veranita Yosephine Sinaga said during a public expose in Tangerang on Thursday, November 16, 2023.

AirAsia Indonesia also managed to improve its EBITDA from negative Rp718 billion to negative Rp30 billion this year. "This reflects the company's efforts to manage operational efficiency," Veranita said.

Veranita said that 2023 has been a period of recovery for the Indonesian aviation world in the aftermath of the Covid-19 onslaught. In AirAsia, this is reflected in the company's positive financial performance in Q2/2023, which is slowly starting to recover from the impact of the pandemic, allowing for growth in the Indonesian aviation industry for both domestic and international routes.

In terms of operational statistics, AirAsia Indonesia also recorded a significant increase with the addition of fleet in operation from 16 aircraft to 23, a capacity increase of 95 percent, and the number of passengers that rose to 4.5 million as of September 2023.

JONIANSYAH

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