 "AirAsia India posts net loss of Rs 19 crore in Q4")
AirAsia India posted a net loss of Rs 19 crore in the fourth quarter of 2014-15.
The result is not comparable to corresponding period in 2014 because the airline began its operations in June last year. However, the airline had registered a net loss of about Rs 21 crore in the December-end quarter.
AirAsia India is an associate company of Malaysian low cost airline AirAsia Berhad which is listed on Kuala Lumpur stock exchange. In its result filing, it showed the airline's revenue stood at Rs 74 crore for March-end quarter of 2014-15.
Recently, the airline launched its northern hub at Delhi, starting flights till Bengaluru, Goa and Guwahati. The airline, which began its service from Bengaluru, has five aircrafts at present and plans to add four more by the end of this year. However, the airline may not launch its operations from Mumbai this year and plans to focus on tier-II cities.
"We have a total of five aircraft. We will easily have a total of eight to nine by the end of the year. So, another three to four should come in this year. I think the metros are very saturated. Our model is tier-II cities and giving people an opportunity to fly. Delhi has been a deviation because we needed a northern hub," AirAsia Chief Executive Officer Mittu Chandilya told Business Standard in an interview. He added that the airline will be able to break even soon.