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Jet fuel prices cause Indonesia AirAsia to post Rp 1 trillion loss

01 April 2019 06:53

JAKARTA. PT Air Asia Indonesia Tbk (CMPP) recorded a loss of Rp 907.29 billion, almost twice the 2017 loss of Rp 512.64 billion. With this loss, Indonesia AirAsia has failed to score a profit in the past four years.

Despite the airine's operating revenue growing 10.87% year on year (yoy) to Rp 4.34 trillion, its cost of revenue suppressed its total revenues. In 2017, Indonesia AirAsia still posted a gross profit of Rp 378.5 billion.

Indonesia AirAsia's operating cost in 2018 grew 123.32% yoy to Rp 5.22 trillion from the previous Rp 3.44 trillion due to significant increases in fuel cost and other operational cost, which hiked 53.17% and 73.24% respectively.

The assets consist of Rp 459.84 billion in current assets and Rp 2.36 trillion in non-current assets.

The airline's liabilities in 2018 surged to Rp 3.65 trillion from Rp 3.05 trillion in late 2017 with short-term liabilities of Rp 2.81 trillion and long-term liabilities of Rp 840.83 billion. Equity value in the period was recorded as reaching Rp 2.85 trillion. (AM/MS)

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