Air Asia India will break even in 12 months: Tony Fernandes

Published: Friday, July 4, 2014, 8:52 [IST]
 
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Air Asia India will break even in 12 months: Tony Fernandes

The new entrant in the budget airline club, Air Asia India, Thursday said it would take about a year to break even.

"We need to put more planes. We are rushing to have six planes operational, after that we are confident that within 12 months we will attain the break-even. Right now the pressure is only to deliver," Tony Fernandes, Group Chief Executive Officer, Air Asia, said at Dabolim airport Thursday.

Top Air Asia India officials, led by chief adviser Ratan Tata, held discussions with Goa's Deputy Chief Minister Francis D'Souza and officials of industry body CII as to how the coastal state can become a hub for it.

Fernandes said the aviation sector has high expectations from Narendra Modi-led Union Government, especially to help reduce the air fares.

"Indian aviation history has failed so far. Not many have made money, some airlines have gone bust," he said.

Modi's plans to promote tourism and a favourable ruling to allow carriers to fly the international route soon could help the industry greatly, he said, adding that reduction in aviation fuel rate and airport taxes would also make domestic flying cheaper, and bolster the industry.

PTI

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