The Philippine unit of Southeast Asia’s largest budget airline said it reduced net loss by 12 percent in the third quarter on higher passenger traffic.
Air Asia Philippines said net loss amounted to P1.2 billion in July to September, down from the P1.4-billion loss it reported a year ago.
Revenues increased 24 percent to P2.57 billion in the third quarter from P2.07 billion in the same period last year.
“The increase in revenue can be attributed to higher passenger volumes which increased by 8 percent year-on-year and the increase in average fare by 21 percent year-on-year,” Air Asia Philippines said.
Passengers carried by AirAsia Philippines increased 8 percent to 976,765 from last year’s 901,957, while load factor went down by 1 percentage point to 83 percent from 84 percent.