AirAsia India expects revenue to double this year, triple in 2018

AirAsia India expects revenue to double to 12b Indian rupees ($186m) this calendar year, and triple to 18b rupees in 2018, its CE said Tuesday. The airline, a tie-up between Malaysia’s AirAsia Bhd and India’s Tata Sons conglomerate, made revenue of 6b rupees in 2016, CE Amar Abrol said. Air passenger traffic in India, the world’s fourth biggest market, is growing at over 20% annually. Abrol declined to say when the airline expected to turn a profit, but said it was targeting to launch its first international route in January 2019 which would most likely be to either Malaysia or Thailand. Under new rules, domestic airlines can fly overseas as long as they deploy 20 aircraft or 20% of capacity in India, whichever is higher. Airlines previously had to wait five years before they were permitted to fly on foreign routes.<br/>