Losses at AirAsia India, the joint venture between Tata Sons and Malaysia’s AirAsia Berhad, widened fivefold to Rs 670 cr in 2018-19 because of high fuel costs, weak rupee and competitive fares. The airline had reported a loss of Rs 125 cr in FY18.
AirAsia India’s peers also posted weak results in FY19 amid a tough operating environment. While profits at IndiGo dipped 93 pc yoy to Rs 156 cr in FY19, SpiceJet posted Rs 316 cr loss for the year ended March 2019, against a Rs 566 cr profit a year ago.
