Mumbai: India will be no different a market, says the AirAsia Chief Executive, Mr Tony Fernandes, having balanced the act of flying people at low fares and yet making profits.
For him, the definition of low cost is a “one rupee fare”, not once in a while, but constantly. Mr Fernandes' plans here, however, are not limited to just aviation.
It extends to budget hotels and may be even hospitals, at a later date, says Mr Fernandes, an Indian by origin, with memories of his first cricket century in Eden Gardens, and playing football for Mohun Bagan.
“Tune Hotels”, as the low-cost chain is called, envisages 20 hotels in India, over the next couple of years, at an investment of about Rs 90 crore.
Often challenged that the “low cost airline model will not work in India…it's different!” – the unfazed Mr Fernandes responds: “it's not”.
“There are a billion people here. My country (Malaysia) has 24 million people. One million people use your trains everyday…I cannot believe a low cost business cannot work here,” Mr Fernandes told Business Line.
09/05/10 Shubhra Tandon/Business Line
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