AirAsia Philippines saw revenues fall 77 percent last year as travel restrictions kept flyers at home. Its latest presentation to investors showed the budget carrier, part of Malaysia’s AirAsia Group, recorded P6.3 billion in revenues for 2020. This compares to sales of P27.35 billion in 2019.
The drop reflected the devastation brought by the global health crisis on air travel demand. AirAsia Philippines carried 77 percent fewer passengers last year, or just two million from 8.55 million the previous year.
Like other airlines around the world, the AirAsia Group cut costs and scaled back operations to survive the pandemic.
AirAsia Philippines, which earlier projected aggressive e…
Keep on reading: AirAsia PH revenues down 77% in 2020