Indonesia AirAsia Reports Significant Financial Performance Growth in 2023

TEMPO.CO, Jakarta - Indonesia AirAsia has recorded a notable increase in financial performance throughout the year 2023. According to the company's financial report, released on Saturday, the company's revenue surged by 75.24 percent year-on-year (YoY) to Rp 6.62 trillion.

"Most of the revenue comes from flight operations, where ticket sales contribute Rp 5.63 trillion, followed by baggage revenue of Rp 731.74 billion," said Veranita Yosephine Sinaga, CEO of Indonesia AirAsia, in a statement received on Saturday, May 11, 2024.

In addition, she noted that revenue also stemmed from flight services amounting to Rp 125.85 billion, cargo at Rp 44.26 billion, and charters at Rp 14.08 billion. Veranita mentioned that Denpasar was the main revenue source with Rp 2.63 trillion, followed by Jakarta with Rp 2.58 trillion. Meanwhile, Surabaya and Medan each recorded figures of Rp 784 billion and Rp 624 billion, respectively.

"Despite fuel price increases and maintenance costs, the company continues to generate revenue," she said.

She stated that Indonesia AirAsia's management is actively seeking funding through several potential schemes. Additionally, PT AirAsia Indonesia Tbk. (AAID/CMPP) management is also actively seeking solutions to address these challenges and ensure the company's operational continuity.

Up to now, she claimed Indonesia AirAsia's flight operations have been running smoothly, serving passengers and cargo transportation without disruptions, both domestically and internationally.

She reaffirmed Indonesia AirAsia's commitment to continually enhance sustainability strategies and the company's sustainability. These strategic steps not only benefit the company but also assist the government in maintaining aviation industry stability in the country.

As of March 2024, Indonesia AirAsia served 33 routes, including 12 domestic and 21 international routes. The On-Time Performance (OTP) rate increased by 14 percent from 73 percent in the first quarter of 2023 to 87 percent in the first quarter of 2024. The passenger load factor in the first quarter of 2024 was recorded at 83 percent, up 2 percent from the first quarter of 2023.

The number of flights during the first quarter of 2024 amounted to 10,874 flights, an increase of 30 percent from the first quarter of 2023. The total number of passengers reached 1.63 million, an increase of 33 percent from the first quarter of 2023.

Operationally, AAID/CMPP incurred a loss of Rp 702.62 billion. After adding financial expenses and taxes, the total loss recorded by the company amounted to Rp 1.08 trillion.

Based on the AAID/CMPP balance sheet report as of December 2023, the company's cash amounted to Rp 56.25 billion, more than doubling from the beginning of the year due to increased cash flow from operational activities. AAID/CMPP's assets were recorded at Rp 6.12 trillion, growing by 14.17 percent, while liabilities reached Rp 14.02 trillion, up 15.17 percent year-on-year (YoY).

JONIANSYAH

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