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Cash crunch pushes AirAsia India to take short-term loans of Rs 630 crore

The Tata Group is yet to take a decision on its merger with Air India. Both Vistara and Air India are full-service carriers

Airasia
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The low-cost carrier currently operates 28 aircraft in its fleet

Deepak Patel
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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First Published: Sep 26 2022 | 6:10 AM IST

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