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AirAsia Indonesia Posts 27% Revenue Hike to Rp1.74tn in Q1/2024

13 June 2024 13:02 WIB

TEMPO.CO, Jakarta - PT AirAsia Indonesia Tbk. (AAID/CMPP) posted revenues of Rp1.74 trillion in the first quarter of 2024, up 27 percent from the same period last year. Jakarta was the low-cost carrier's main revenue source at Rp776.7 billion followed by Denpasar at Rp638.3 billion.

"This increase in revenue was driven by the high activity of booking domestic and international air tickets since the recovery from Covid-19," the airline's president director Veranita Yosephine Sinaga said in a written statement, Thursday, June 13.

The high activity in ticket purchases, Veranita said, caused the number of passengers to increase by 33 percent or 1.62 million, with a load factor of 2 points or 83 percent over the first quarter.

The company also noted that most of its revenue came from flight operations, where ticket sales contributed Rp1.47 trillion, followed by ancillary revenue of Rp255.8 billion and cargo of Rp13.5 billion.

According to Veranita, Jakarta is the main source of revenue worth Rp776.7 billion. Followed by Denpasar with Rp638.3 billion. Meanwhile, Surabaya and Medan recorded figures of Rp198.8 billion and Rp128.3 billion respectively.

Weak Rupiah, Fuel Hike Resulted in Losses

In the first quarter of 2024, Veranita said, the significant depreciation of the rupiah against the US dollar - from Rp15,062 to Rp15,853 per dollar - resulted in a loss of Rp304 billion or 39 percent of the total.

She said that fuel consumption was recorded as one of the main contributors to operating expenses at 36.96 percent of the total cost.

"Operationally, AirAsia Indonesia ended the first quarter of 2024 with a loss of Rp777 billion," Veranita said.

New Routes

During the first quarter, Veranita said AirAsia Indonesia also launched two new routes, namely Denpasar-Lampung and Jakarta-Kota Kinabalu, Malaysia. Veranit said the company will continue to optimize aircraft capacity through plans to open new domestic and international routes, which will add value to the business and increase market share.

"In addition, is also an effort to help the government increase tourist visits to a number of tourist destinations," she said.

JONIANSYAH

Editor's Choice: 10 Richest Countries in the World by GDP per Capita, Singapore Ranked 3rd

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