• NEWS
    • SUBSCRIBE TO OUR NEWS
    • ADVERTISE WITH US
  • EVENTS
    • THIRSTY THURSDAY
      • MEMBER PORTAL
    • VIDEOS
    • PHOTOS
    • TRAINING
    • CONFERENCES
  • JOBS
    • FOR JOB SEEKER
    • FOR EMPLOYER
  • COMMUNITY
    • SEARCH PEOPLE
      • Create a profile now
    • SEARCH COMPANIES
      • Create a profile now
  • EVERYTHING TD
    • About TD (Travel Daily Media)
    • Advertise with TD
    • What is Native Content?
    • Executive team
      • Gary (Founder/CEO)
      • Chris (GM & Managing Editor)
      • Mali (Finance Mgr)
    • Content team
      • Kristin (Senior Editor)
      • Megha (Editor)
      • Joe (Guest writer)
      • Thakorn (Video)
    • Sales team
      • Anthony (Director-AU)
      • Mark (BDM-Thailand)
      • Beth (BDM-HKG/China)
      • Devapriya (BDM-India & ME)
      • Jay (BDM-India & ME)
      • Linzi (BDM-UK/Europe)
      • Maxine (BDM-UK/Europe)
      • Samie (BDM-USA)
  • SELF SERVICE
    • 2022 TD Media Kit
    • Self Service portal
    • Submit Press Release
    • Upload your Travel Blog
    • List your Event with TD

Travel Daily Travel Daily - Informing, connecting and developing the world’s travel industry professionals.

  • MARKETS/SECTORS
  • FEATURES
    • Partner Articles
      • Airlines / Airports
      • Car Rental
      • Conferences
      • Cruising (Ocean)
      • Cruising (River)
      • Destination Management (DMC)
      • GDS / CRS
      • Hotels & Resorts
      • Hotel Technology
      • HR / Appointments
      • Insurance
      • Meetings, Incentives, Conferencing, Exhibitions (MICE)
      • Travel Agents (all)
      • Travel Software Platforms
      • Tourism Boards
    • Interviews
    • Industry appointments
    • Travel Bloggers
    • Podcasts – Features
    • Podcasts – Daily News
  • TRAVEL GUIDES
    • จุดหมายปลายทาง นาจอมเทียน หาดบ้านอำเภอ บางเสร่ *NEW*
    • Destination NaJomtien BanAmphur BangSaray *NEW*
    • South Australia Rewards Wonders *NEW*
    • Ponant Yacht Cruises and Expeditions
    • Encore Tickets (Chinese Guide)
    • Affordable Luxury in Thailand by Centara Hotels
      • GDS / CRS
    • Rising Above the Oridinary by Conrad Bangkok
    • The Best of Thailand
  • MERGERS & ACQUISITIONS
    • Investor/Buyer wanted
    • Business for sale
    • About TD Consulting
    • News
  • IWTA
    • Who is IWTA
    • Meet our featured leaders
    • IWTA Awards
    • Nominate Someone
    • Nominate yourself
Travel Daily
AirAirlinesAirports & Aviation

Hitting turbulence: AirAsia reviews joint venture with Tatas, may exit India

By Megha Paul On Nov 19, 2020
TD Editor
Share

Malaysia’s AirAsia said it is evaluating its loss-making budget airline joint venture in India with Tata Sons in the wake of the financial distress due to the coronavirus pandemic. “Our businesses in Japan and India have been draining cash, causing the group much financial stress. Cost containment and reducing cash burns remain key priorities evident by the recent closure of AirAsia Japan and an ongoing review of our investment in AirAsia India,” the airline said in a statement.

“A detailed network and fleet optimisation strategy has been implemented across the network, putting the right foundations in place for a sustainable and viable future. We continually review our network to ensure we fly the most popular and profitable routes,” AirAsia said, adding that the airline would focus on the ASEAN region, where its operations are the strongest.

Tata Sons, the holding company of the Tata group, has a 51% stake in AirAsia India. AirAsia Group owns the remaining 49%. The airline, which began operations in 2014, has never reported an annual net profit despite being very conservative with its growth plans.

The carrier’s losses widened in the June quarter mainly due to the lockdown and travel curbs to contain the pandemic.

According to the latest data from the Directorate General of Civil Aviation (DGCA), AirAsia India reported a 58.4% load factor and 6% market share in September, making it the sixth among six major commercial carriers in India in terms of passengers carried. It carried 0.24 million passengers during the period.

In comparison, market leader IndiGo, which had a 57.5% market share in September, recorded a 65.4% load factor, carrying 2.27 million passengers during the month.

Indian airlines have been among the worst-affected by the pandemic, which has led to muted demand amid travel restrictions, especially on international sectors.

According to industry lobby group International Air Transport Association (IATA), airlines in the Asia-Pacific region, including India and Malaysia, are the hardest hit by the pandemic with losses expected to be around USD 29 billion this year.

AirAsiaAccor HotelsAccor GroupDirectorate General of Civil Aviation (DGCA)AccorTata SonsAccor Hotels Group
Share
You might also like
Hotels

Mövenpick Hotel Auckland opens making it the brand’s first property in New…

Hospitality

Accor adds iconic Queen Elizabeth 2 to portfolio in Dubai

Hotels

Accor hotels across Thailand debut virtual job fair

TD Syndicated Partner

Queen Elisabeth 2 is now an Accor Hotel

Prev Next

Comments are closed.

LATEST STORIES

  • VIVA Cruises unveils free cabin upgrades in VIVA ONE

    First Courtyard by Marriott in Central London gears up for ever-changing hospitality landscape

    Hola Barcelona! Valiant Lady arrives in Mediterranean homeport

    ATM sees 23,000 visitors to explore future of tourism

Reopening updates

New Zealand reopens to travellers after two years

Portugal welcomes back Indian travellers

Cambodia cuts quarantine period for unvaccinated travellers

Myanmar reopens to travellers

Prev Next 1 of 155
STAY UPDATED WITH THE LATEST TRAVEL NEWS, JOBS & EVENTS!
Join over 180,000 travel agents, professionals and executives subscribed to our daily newsletter.
You can unsubscribe at any time
Klook.com

POPULAR STORIES

VIVA Cruises unveils free cabin upgrades in VIVA ONE

First Courtyard by Marriott in Central London gears up for…

Hola Barcelona! Valiant Lady arrives in Mediterranean…

ATM sees 23,000 visitors to explore future of tourism

Prev Next 1 of 4,313

IWTA STORIES

IWTA speak with Shoba Mohan – Rare India

IWTA speaks with Caroline Shen – Director of Sales &…

IWTA speaks with Captain Zephina Khanam Mohd Jasbir Khan

IWTA speaks Monika Anggreni – Captain for AirAsia Indonesia

Prev Next 1 of 7
Search
MENU
  • News
  • Events
  • Jobs
  • Community
  • Subscribe

MARKETS

  • Asia
  • Australia
  • New Zealand
  • India
  • Middle East
  • UK & Europe
  • USA

SECTOR

  • Air
  • Cruise
  • Hospitality
  • HR & Careers
  • Luxury Travel
  • MICE
  • Technology
  • Tourism
  • Travel Agents
About
  • BOOK A SALES CALL
  • About TD (Travel Daily Media)
  • Advertise with Us
  • Privacy Policy
  • Terms of Use
© 2022 - Travel Daily. All Rights Reserved.
Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time
Close

Welcome, Login to your account.

Forget password?

Sign in with Google

No account? Sign Up
Sign in

Recover your password.

A password will be e-mailed to you.

LOG IN

Welcome back, Log in to your account.

Continue with Facebook
Continue with Google
Continue with Twitter
Continue with LinkedIn

OR
Log in using your email
Forgot password?
Not a member yet? SIGN UP FOR FREE
Sign in

Recover your password.

Sign in

SIGN UP FOR FREE

(New User)

Be part of our community of seasoned travel and hospitality industry professionals from all over the world.

Continue with Facebook
Continue with Google
Continue with Twitter
Continue with LinkedIn
I want to
Only letters and numbers are allowed
Please enter a valid email address
Must be between 6-8 characters
Must be the same with Password
Already have an account? LOG IN
  • LOGIN / SIGN UP
  • NEWS
    • MARKETS
      • Asia
      • China
      • Pacific
      • India
      • Middle East
      • UK & Europe
      • USA & Canada
    • SECTORS
      • Air
      • Cruise
      • Hospitality
      • HR & Careers
      • Luxury Travel
      • MICE
      • Technology
      • Tourism
      • Travel Agents
    • FEATURES
      • Partner articles
        • Airlines / Airports
        • Car Rental
        • Conferences
        • Cruising (Ocean)
        • Cruising (River)
        • Destination Management (DMC)
        • GDS / CRS
        • Hotels & Resorts
        • Hotel Technology
        • HR / Appointments
        • Insurance
        • Meetings, Incentives, Conferencing, Exhibitions (MICE)
        • Travel Agents (all)
        • Travel Software Platforms
        • Tourism Boards
      • Interviews
      • Industry appointments
      • Travel Bloggers
      • Podcasts – Features
  • EVENTS
    • Thirsty Thursday
    • Thirsty Thursday Member Portal
    • Photos
    • Videos
    • Webinars
    • Conferences
  • JOBS
    • For Job Seeker
      • Create a profile now
    • For Employer
      • Create a profile now
  • COMMUNITY
    • Search community profiles
    • Search Companies
  • TRAVEL GUIDES
    • จุดหมายปลายทาง นาจอมเทียน หาดบ้านอำเภอ บางเสร่ *NEW*
    • Destination NaJomtien BanAmphur BangSaray *NEW*
    • South Australia Reward Wonders *NEW*
    • Ponant Yacht Cruises and Expeditions
    • Encore Tickets (Chinese Guide)
    • Affordable Luxury in Thailand by Centara Hotels
    • Rising Above the Oridinary by Conrad Bangkok
    • The Best of Thailand
  • MERGERS & ACQUISITION
    • Buyers/Investors wanted
    • Business for sale
    • About TD Consulting
    • News
  • IWTA
    • Who is IWTA
    • Meet our featured leaders
    • IWTA Awards
    • Nominate Someone
    • Nominate yourself