AirAsia Said to Stop Funding Indian Venture as Cash Dwindles
- Business is being propped up by majority shareholder Tata
- Malaysian group quits Japan; long-haul arm in liquidity crunch
An aircraft operated by AirAsia Bhd and in New Delhi, India.
Photographer: T. Narayan/BloombergThis article is for subscribers only.
AirAsia Group Bhd. has stopped funding its Indian affiliate as the global travel slump leaves the Malaysian group struggling to support a sprawling empire of no-frills airlines, people familiar with the matter said.
AirAsia India Ltd.’s future may now depend on Indian conglomerate Tata Group, its majority shareholder, which has provided emergency funding but has yet to commit to a full rescue, according to the people, who asked not to be named discussing a confidential matter.