AirAsia India has incurred a loss of Rs 26 crore in the first month of its operations, according to the statement by its one of its promoter Air Asia Berhad on the Malaysian stock exchange.
AirAsia Berhad, which has 49% stake in the latest low-cost airline to set shop in India, released the numbers last week as part of its April-June results.
"AirAsia India recorded a net loss of ringgit 13.8 million (quarter ended June 30, 2013: RM nil) in the quarter under review," the airline said in a statement.
AirAsia India, a joint venture between AirAsia, Tata Sons and Telestra Tradeplace, started its operations on June 12, with first flight between Bangalore and Goa.
The airline had earlier said it would concentrate on Tier I and II cities in order to keep its costs under control. It had also said its breakeven would be delayed to December due to delay in plane deliveries and a plan to boost investment in the fleet. The airline was earlier targeting a breakeven around October.
26/08/14 Daily News & Analysis
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AirAsia Berhad, which has 49% stake in the latest low-cost airline to set shop in India, released the numbers last week as part of its April-June results.
"AirAsia India recorded a net loss of ringgit 13.8 million (quarter ended June 30, 2013: RM nil) in the quarter under review," the airline said in a statement.
AirAsia India, a joint venture between AirAsia, Tata Sons and Telestra Tradeplace, started its operations on June 12, with first flight between Bangalore and Goa.
The airline had earlier said it would concentrate on Tier I and II cities in order to keep its costs under control. It had also said its breakeven would be delayed to December due to delay in plane deliveries and a plan to boost investment in the fleet. The airline was earlier targeting a breakeven around October.
26/08/14 Daily News & Analysis
