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AirAsia India has sunk deeper into the red with the domestic airline recording a loss of ₹332 crore in Q2FY2021, which was more than double the losses it incurred during the same period in the previous period.
The results of the Indian operations of the airline, which were posted on AirAsia Berhad website, show that the revenues of the company were ₹90.08 crore for the first quarter compared with ₹904 crore during the same period a year ago.
The poor performance of the airline was because of the suspension of operations due to the pandemic and higher expenses on account of the addition of nine aircraft. AirAsia India resumed flights on May 25, 2020.
Cash and short-term deposits with the airline were also down at ₹145.7 crore compared with ₹498 crore for the same period in the previous year. The airline’s borrowings had also increased to ₹550 crore from ₹170 crore during the same time last year.
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