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AirAsia Indonesia Records 20% Revenue Growth In Q3 2024

Indonesia AirAsia, named the best low-cost airline in the world by Skytrax, reported a revenue of Rp 5.91 trillion for the third quarter of 2024, a 20% increase from Rp 4.93 trillion in the same quarter of 2023.

During the third quarter of 2024, Indonesia AirAsia transported 4.99 million passengers, contributing to the revenue growth of PT AirAsia Indonesia Tbk. (AAID/CMPP). The passenger load factor also improved by 3 percentage points to 87% compared to the third quarter of 2023, according to the CEO of Indonesia AirAsia, Veranita Yosephine, in Jakarta on Wednesday (30/10).

In the same period of 2023, Indonesia AirAsia recorded 4.52 million passengers, marking a 10% increase in the third quarter of 2024.

Most of AAID/CMPP's revenue comes from flight operations, with ticket sales contributing Rp 5.02 trillion, followed by baggage and flight services at Rp 796.83 billion, ancillary revenue at Rp 42.63 billion, cargo at Rp 40.62 billion, and charter services at Rp 1.60 billion.

Revenue per available seat kilometer (RASK) increased by 12% or Rp 716, with a capacity boost of 7% or 5.70 million seats.

Jakarta hub generated the highest revenue at Rp 2.48 trillion, followed by Denpasar at Rp 2.31 trillion. Surabaya and Medan reported revenues of Rp 687.66 billion and Rp 425.49 billion, respectively.

In the third quarter of 2024, business revenue rose by 20% or Rp 972 billion, while net losses decreased by 22%, indicating a margin improvement of 7 points compared to the third quarter of 2023. The net loss mentioned does not include gains or losses from foreign currency transactions.

Veranita noted that AAID/CMPP is committed to enhancing company performance and aims to be a key airline contributing to the Indonesian government's efforts to boost the tourism sector. This includes expanding connectivity to strengthen ties between Indonesia and neighboring countries.

In the third quarter of 2024, Indonesia AirAsia launched four new international routes: Jakarta-Bandar Seri Begawan, Bali-Phuket, Bali-Kota Kinabalu, and Bali-Cairns. More international routes to various Asian countries are expected to open in the fourth quarter of 2024.

With a 20% increase in AAID/CMPP revenue in the third quarter of 2024, operating expenses also rose by 13%. Fuel consumption accounted for 16% of these expenses, while maintenance and repairs made up 22% of the total costs.

Indonesia AirAsia will work to optimize aircraft usage to meet the growing demand for flights on both domestic and international routes. The airline remains committed to enhancing its sustainability strategies and ensuring the company's continuity, contributing to the government's efforts to maintain stability in the aviation industry in the country.

Tag: AirAsia Denpasar