AirAsia plans to add at least 10 planes a year for India operations

MUMBAI (Reuters) - AirAsia, which plans to launch a budget airline in India later this year, would aggressively expand its fleet and is looking to add at least 10 planes a year, Chief Executive Tony Fernandes told reporters in Mumbai on Monday.

Fernandes said AirAsia would want to offer the lowest possible fares in its Indian operations.

AirAsia, the largest budget carrier in Asia, plans to launch a regional airline in India with an initial investment of 800 million rupees to cash in on rising demand for domestic air travel among the country's rapidly expanding middle class.

Tata Group and investment firm Telestra Tradeplace are its partners in the venture.

 

(Reporting by Aradhana Aravindan; Editing by Prateek Chatterjee)