The Philippine unit of Southeast Asia’s largest budget airline incurred a loss in the first quarter of the year due to higher operating expenses.
AirAsia Philippines said it registered at a net loss of P391.98 million in the January-to-March period, a turnaround from a profit of P29.37 million year-on-year.
The budget airline’s revenues reached P5.27 billion, up 46 percent from P3.62 billion on the year.
Operating expenses rose 7 percent to P426.63 million from P399.68 million on year.
AirAsia carried 1.61 million passengers in the first quarter of the year, up 39 percent from 1.15 million passengers in the same period last year.
The airline recorded a load factor of 87 percent during the period, down 5 percentage points from 92 percent.
AirAsia operates several flights to/from Manila, Davao, Kalibo, Caticlan (Boracay), Tacloban, Tagbilaran (Bohol), Puerto Princesa (Palawan), Clark, and Iloilo in the Philippines, with international flights to/from Shanghai, Taipei, Incheon (Seoul), Hong Kong, Macau, Kuala Lumpur, Kota Kinabalu, Guangzhou, Vietnam, Indonesia and Singapore.