BANGALORE
AirAsia Bhd’s Indian joint venture launched its debut flight on Thursday, promising the budget airline would buck the trend of accelerating losses that is hurting rivals and break-even around October.
High costs, low fares and a highly competitive market have left all but one of India’s big airlines losing cash. Jet AirwaysBSE -0.13 % Ltd and SpiceJet LtdBSE -2.93 % last month reported record losses as a price war intensified.
But Chief Executive Mittu Chandilya believes his airline can break-even “in four months”.
Read more at Economic Times
