AirAsia Group is looking to take its AirAsia India (I5, Chennai) unit public, Chief Executive Officer Tony Fernandes has announced.

In a series of tweets, Fernandes said the Malaysia-based low-cost airline conglomerate would seek approval to select a "banker to start the preliminary process" during the next AirAsia India board meeting.

"Very valuable asset with huge growth potential," he added.

AirAsia India is a joint-venture between AirAsia Berhad (49%), Tata Sons (49%), and two Tata executives R Venkataramanan and S Ramodarai each with a 1.5% stake.

AirAsia India hopes to make its international debut later this year once it reaches the twenty-aircraft minimum prescribed under Indian law.

Currently, it operates fourteen A320-200s on flights to 16 destinations across India.