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AirAsia India plans IPO

Press Trust of India  |  New Delhi 

No-frills plans to come out with its initial public offer and would seek approval at its next board meeting for appointing a to start the preliminary process.

The -- a joint venture between and Malaysia's Berhad -- commenced operations in June 2013.

Group today said that AirAsia has plans for an IPO.

"Analysts giving zero value to AirAsia Not far from 20 planes and a potential IPO," he said in a tweet.

In the Bengaluru-based AirAsia India, 51 per cent is with while the rest is held by

"AirAsia will be seeking approval at the next AirAsia India board to pick a to start prelim process. Very valuable asset with huge growth potential," Fernandes said in another tweet.

The company has already announced its plans to fly overseas from the second half of this year.

Under Indian regulations, a domestic should have at least 20 planes before it can start services to foreign destinations.

Currently, it flies to 16 destinations from its three hubs -- Bengaluru, and -- and has a fleet of 14 A320 planes.

narrowed its net loss to Rs 16.4 crore in the September quarter this fiscal as against Rs 62.12 crore suffered in the July-September period of the last fiscal.

On an year-on-year basis, achieved 99 per cent growth on passengers carried as well as a 104 per cent rise in capacity in the quarter under review.

Currently, three Indian carriers are listed on the bourses. They are Jet Airways, and IndiGo's parent

In another tweet, Fernandes said AirAsia is in the process of appointing a to find a partner for its profitable shared services business, AirAsia Global Shared Services Sdn Bhd (AGSS).

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 10 2018. 21:55 IST