 "Airasia")
Tata Group-owned AirAsia India, which is in the process of being merged with Air India Express, has taken short-term loans worth Rs 630 crore during the last six months to deal with cash crunch.
AirAsia India has been making losses since its first commercial flight on June 12, 2014. Its net loss increased by 42 per cent to Rs 2,178 crore in FY22.
Standard Chartered Bank had given Rs 200 crore as short-term loan and Rs 30 crore as overdraft facility to the airline last month, according to documents reviewed by Business Standard (see table).
IndusInd Bank gave Rs 200
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