AirAsia India is an Indo-Malaysian low cost carrier. Announced on 19 February 2013, the airline is a joint venture with Air Asia Berhad holding 49% of the airline, Tata Sons holding 30% and Telestra Tradeplace taking up the remaining 21% in the airline. The joint venture would also mark Tata's return to aviation industry after 60 years. Air Asia India commenced operations on 12 June, 2014.
AirAsia is the first foreign airline to set up a subsidiary in India. The airliner will operate with the world's lowest unit cost of INR1.25 available seat kilometer and a passenger break-even load factor of 52%. It will hedge 100% of its fuel requirements for the next three years and plans to achieve an aircraft turnaround time of 25 minutes.
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