The sale is part of AirAsia's efforts to sell non-core assets and will allow it to cut debt while ridding itself of the financial commitment of owning aircraft.
The Bengaluru-headquartered air carrier also announced the induction of Airbus A320 into the fleet taking the total to 15
"AirAsia X will need more planes. We are now looking at (Airbus) 330 (and) 350s, (Boeing) 787," Fernandes told reporters on the sidelines of a business forum in Manila.
Air Asia India, which is keen to fly overseas this year, has ended the quarter with a fleet size of 14 aircraft after adding one plane in the quarter and six in the year.
The Tatas-AirAsia-run airline is also looking to break even by this December or early next year, managing director and chief executive Amar Abrol said.
The company will seek approval at AirAsia India's next board meeting to pick a banker to start the preliminary process for the IPO, Fernandes said on Twitter.
The woman in an FIR with the police alleged that a flight steward made "unwelcome physical advances" onboard and spoke rudely to her
The Malaysia based airline had launched direct flights between Bhubaneswar and Kuala Lumpur on April 27 this year with four flights a week.
With the induction of the new plane, AirAsia India has now a fleet of 13 A320 aircraft, which are not in sync with its plans of adding 10 aircraft per year, announced at the time of launch in June 2013.
AirAsia today announced the launch of direct flights between Tiruchirapalli and Bangkok at starting fares of Rs 3,399 for a one-way journey.
The airline has also added an additional flight on Bengaluru–Bhubaneshwar and Kolkata–Bhubaneshwar routes, a release today said.
Out of the total, budget carrier IndiGo is expected to add 136 aircraft while full service airline Vistara is likely to induct at least 5 planes during the period, as per details given by civil aviation minister Ashok Gajapathi Raju in a written reply to the Rajya Sabha.
Malaysian budget airlines group, AirAsia today announced discounted fares, starting as low as Rs 1,099 for domestic destinations operated by its Indian joint venture carrier and Rs 2,999 for international flights operated by other group airlines under a limited period offer.
The Bengaluru-based airline, which is a joint venture between Tata Sons and Malaysia's AirAsia Berhad, raised its fleet size to nine aircraft from six in the first quarter of the previous year, AirAsia India said in a statement.
Despite tremendous gains in SpiceJet, Jet Airways, which saw 11 and 4.5 percent rise respectively in a single day, analysts see further uptrend for aviation stocks.
The Enforcement Directorate has summoned former AirAsia India CEO and MD Mittu Chandilya in connection with a FEMA probe.
Allegations have flown thick and fast ever since Cyrus Mistry was ousted as Chairman of the fabled Tata Group.
After its largest ever graft probe, Britain's Serious Fraud Office (SFO) found Rolls-Royce paid massive bribes over three decades to win contracts in Indonesia, Thailand, India, Russia, Nigeria, China and Malaysia.
The Cyrus Mistry and Ratan Tata saga seems to be unending with Cyrus Mistry's family companies filing three fresh affidavits in the National Corporate Law Tribunal (NCLT).
As more and more capacity is added, the company's profitability is hit, says Fernandes. He does not feel the company will turn profitable in 2017. However, he feels the company should start making profits by mid-2018.
CBI is examining the matter pertaining to allegedly suspicious transactions of Rs 22 crore involving non-existent entities in India and Singapore in AirAsia, an issue already being probed by the Enforcement Directorate.
ED is probing ousted Tata Group Chairman Cyrus Mistry's allegation that fraudulent transactions of Rs 22 crore, involving non-existent entities in India and Singapore, were carried out in an instance involving the airlines.
The matter was listed for hearing today but could not be taken up as the judges were not available for hearing it. The hearing was posted for February 23 next year.
Eight months after taking over the reins of AirAsia India as CEO, Amar Abrol has been appointed Managing Director of the no-frills airline in addition to the current role.
Budget carrier AirAsia India (AAI) flew 5.89 lakh passengers in three months ended September, 2016, a 42 per cent increase from the number of passengers who flew in the airline in the year-ago period.