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  • Scale-up cuts Q2 loss for Indonesia AirAsia's parent company

Scale-up cuts Q2 loss for Indonesia AirAsia's parent company

The parent company of Indonesia AirAsia posted an operating loss of Rp37.9 billion ($2.7 million) in the second quarter as the budget carrier scaled up its operations.

Revenue at AirAsia Indonesia for the quarter ended 30 June jumped 63% to Rp3 trillion. ASKs and RPKs both rose 58%, its overall seat load factor inched one point upwards to 82%. This was attributed to the launch of its new hub at Lombok, and frequency increases on the Jakarta-Denpasar and Jakarta-Surabaya routes during the quarter.

Expenses were up 29% to Rp3.03 trillion, led by higher fuel and leasing costs.

The company was also able to narrow its quarterly net loss by 81% to Rp82.5 billion, as it benefitted from a Rp27.2 billion gain on a remeasurement of employee benefits liabilities.

Cash and cash equivalents at 30 June amounted to nearly Rp319 billion, up from Rp140 billion at the start of the year.

Its fleet size grew from 15 to 25 aircraft, as it took over eight jets from its long-haul sister carrier Indonesia AirAsia X which ceased scheduled flights in January. The carrier also received two other jets from AirAsia Group.

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