AirAsia India ‘draining cash’; reviewing investment in joint venture: Malaysia’s AirAsia Group

Mumbai: Malaysian carrier AirAsia Berhad has given its clearest indication yet that it wants to exit its joint venture in India.

Its businesses in Japan and India have been “draining cash, causing the group much financial stress,” airline president Bo Lingam said in a statement on Tuesday. “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.”