AirAsia India's Q3 2017 net loss down 74%

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Mumbai/Sepang, Nov 30: Budget passenger carrier AirAsia India's net loss declined by 74 per cent for the quarter ended September 30, 2017.

AirAsia Group's CEO Tony Fernandes on Wednesday said: "Our associate airline in India has grown tremendously, achieving 99 per cent-year growth on passengers carried and a remarkable 104 per cent year-on-year growth in capacity this quarter."

"Revenue increased by 126 per cent year-on-year and net loss reduced by 74 per cent year-on-year to Rs 164 million."

According to Fernandes, who announced the group's third quarter 2017 financial results, AirAsia India will have 14 aircraft by the end of 2017 and 21 aircraft by the end of 2018. 

"We are on target to launch our international routes the minute we achieve 20 aircraft in India next year. We foresee our Indian operations to be very profitable once we start flying regional routes and connecting them to our wide network," Fernandes said.