AirAsia has stepped out to quash speculation that it is in talks to buy a stake in Indian low-cost carrier SpiceJet.
"AirAsia rejects the speculation surrounding our possible expansion in India," says its group chief executive Tony Fernandes. "These reports are completely incorrect. AirAsia has not submitted a bid for the Indian budget carrier, and has no intention of doing so."
Media reports in India said on 26 November that the Malaysian low-cost carrier was eyeing a stake in SpiceJet as part of its expansion plans.
Last week, Fernandes had told reporters that AirAsia may add one more hub, listing India, Taiwan, South Korea and Vietnam as potential markets.
Fernandes has expressed interest in tapping on the Indian market after the country relaxed its foreign direct investment regulations in September to allow airlines to buy up to a 49% stake in local carriers.
Meanwhile, AirAsia's long-haul arm AirAsia X suspended its services in March to Mumbai and New Delhi because of visa restrictions and high airport handling charges.