11/23/2021 | Press release | Distributed by Public on 11/23/2021 02:40
MANILA, 23 November 2021 - AirAsia Philippines reports stronger YoY and QoQ key operational metrics, leading other AirAsia's airline entities in the Third Quarter 2021 Financial Results of AirAsia Group Berhad.
AirAsia Philippines posted 167% growth in the number of passengers carried YoY and a 5% increase QoQ. Load Factor was healthy at 77%, attributed to active capacity management.
All AirAsia Philippines destinations now no longer require COVID-19 test for fully vaccinated individuals, lowering the cost for air travel. Further, 9 out of 11 destinations have already opened their doors to leisure travelers.
AirAsia Philippines CEO Ricky Isla said, "I attribute these very encouraging numbers to our very hardworking Allstars (employees), and to all our guests who continue to believe and support AirAsia. Indeed, we are all set to win the post pandemic recovery with the ongoing progress of the nationwide vaccination against COVID-19."
"Now more than ever we focus on what's essential, and there is no letting go of opportunities that will enhance guests' experience and customer journey."
AirAsia Philippines CFO Ray Berja said, "We will continue to be cautiously optimistic by making sure we always strike a balance between cash burn and market demand. Our goal has always been to double down on productivity to manage cash flow and operate on break-even points to efficiently manage cash burn. I am most proud of our lifestyle of cash consciousness and mindset of cost efficiencies across AirAsia. The road to recovery will take a while but what's definite is that the trajectory is up there, and comprehensive plans are on a push button mode."
To further stimulate growth in Q42021, AirAsia Philippines will double and triple its current weekly flight frequencies to most destinations such as Caticlan, Iloilo, Tacloban, Bacolod, Tagbilaran, Puerto Princesa, Kalibo and Cebu. Meanwhile, it will retain its strong presence in Cagayan De Oro, Davao, Zamboanga and General Santos.
AirAsia Philippines will also return to the skies of Hongkong and Singapore this December to service Overseas Filipino Workers in these bustling cities who will be returning to the Philippines for the holidays.
"We support the appeal of the Air Carriers Association of the Philippines to increase the daily cap for foreign arrivals from four thousand to ten thousand to complement the pent-up demand during the holidays. While there have been significant improvements in terms of travel restrictions, there is no room for complacency when it comes to observing the strictest health and safety protocols on ground and in flight", Isla added.
Meanwhile, Q32021 also reported 7% YoY revenue growth for airasia Super App, attributed to new product offerings and commissions. In the Philippines, airasia Super App has successfully launched Hotels, SNAP (Flight+Hotel bundle), Unlimited deals, and soon more offerings will cater to the growing ecommerce market.
BigPay posted significant growth in revenue, up 26% YoY driven by payments and remittances. Teleport's revenue tripled YoY due to strategic growth of its cargo network to establish its presence in the market.
CEO of AirAsia Group Berhad, Tan Sri Tony Fernandes said, "As a Group, we have taken advantage of the downtime in flying to tap new revenue streams and fully transform ourselves into an investment holding company with a portfolio of synergistic travel and lifestyle businesses. In just over a year and a half, Asia Digital Engineering, Airasia superapp, Teleport and BigPay have gained significant traction and established a strong presence in our key markets. As the world continues to open up and a strong recovery in air travel is on the horizon, we have ensured our portfolio companies are given autonomy to run their business independently to encourage innovation and ensure speed to market through even higher efficiency. Together as a group, each of our businesses continue to leverage significant data and industry leading technology to deliver the best value at the lowest cost, supported by one of Asia's leading brands that remains committed to serving the underserved."