Thursday, July 3, 2014

#AirAsia India Expects to Break Even in First Year

#BANGALORE— #AirAsia 5099.KU 0.00% Bhd expects its airline venture in India with the Tata Group to break even in its first year of operations through tight cost controls and high passenger loads on its flights.
AirAsia India Expects to Break Even in First Year
Tony Fernandes, chief executive of Malaysia-based budget airline AirAsia, said Thursday the new Indian carrier needs to add more planes quickly.
AirAsia India Pvt. flew its first flight on June 12 and has just one leased Airbus A320 single-aisle jet. It will lease six other A320 planes this year and start flights to four new destinations in India, Mr. Fernandes said at news conference. He didn’t elaborate.
The Indian carrier currently flies to four cities: Bangalore, Kochi, Goa and Chennai.
AirAsia India is owned 49% by AirAsia. Tata Sons Ltd.—which controls the diversified Tata Group—owns 30% while India’s Telestra Tradeplace Pvt. holds the remaining 21%.
Post a Comment