Budget airline group AirAsia
AirAsia, which flies close to 200 airplanes and is the largest operator of Airbus`s
"We`ve been able to get the Philippines and Indonesia really rocking, turning them into little gems," Fernandes told Reuters TV on the sidelines of the World Economic Forum in Davos.
"Demand is good, the ancillary model is doing well and our JV business using our data has started moving."
Fernandes said the board of AirAsia`s Indian arm, a joint venture with Tata Group, had approved plans to pursue an initial public offering and was appointing bankers for initial work.
"India is going to be a real nice surprise for AirAsia," he said.
The Indian government this month said it would allow foreign investors to participate in a planned privatisation process for rival state-owned carrier Air India, but Fernandes on Tuesday ruled out AirAsia`s involvement.
"We know what we are good at - low cost," he said. "Air India is a great airline, but it is really not our business model and not something that we would be involved in."
Fernandes told Bloomberg on Tuesday the group will look at ordering more airplanes "eventually but not at present".
AirAsia also has no plans to bring forward deliveries despite strong demand, he said.
Since Fernandes bought what was then a debt-laden carrier for the token price of one Malaysian rinngit in 2001, AirAsia has expanded to become one of the world`s largest low-cost airline groups as well as one of Airbus`s biggest customers worldwide.
Industry experts have begun to question whether AirAsia will remain exclusively linked to Airbus as it expands, with some suggesting that Boeing 787s could fit into its long-haul operations. Boeing and Airbus are fighting for twin-aisle sales.
Airbus and Boeing declined to comment.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)