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AirAsia Indonesia announces US$79.4 million interim loss
September 2nd 2021
PT AirAsia Indonesia has reported a net loss of 1.2 trillion rupiah (US$79.4 million) for the six months to June 30, falling deeper into the red from a net loss of 909.1 billion rupiah in the same six months in 2020. Read More » Operating revenue fell 66.2%, to 453.4 billion rupiah, PT AirAsia Indonesia said in a regulatory filing to the local bourse. Net operating expenses were 37.4% lower, at 1.5 trillion rupiah. AirAsia Indonesia said returning to normal operations had been slow due to travel restrictions imposed by government, limits on passenger capacity due to physical distancing and the closure of international borders. Also, customers were avoiding non-essential travel, it said. The LCC is monitoring developments and has "exerted efforts to push for recovery", including cost cutting, renegotiating with vendors and creditors, and optimising aircraft capacity. "Notwithstanding the above plans, there are uncertainties regarding the group’s ability to continue as a going concern. It highly depends on the expected timing of the recovery of the COVID-19 pandemic in conjunction with the actions undertaken by the government of Indonesia, including the successful implementation of the vaccination program," the company said in its financial report. AirAsia Indonesia flights have been suspended since July due to the COVID-19 situation in the nation.
