AirAsia India (I5, Chennai) is looking to add up to 70 aircraft to its fleet over the next 4-5 years, Chief Executive Officer (CEO) Amar Abrol has said.

“We are expanding aggressively and aiming to be among the top three in the low-cost carrier (LCC) segment once we have inducted 60-70 aircraft in our fleet,” AirAsia India chief executive Amar Abrol told India's ANI news agency in an interview last week.

The AirAsia Group/Tata Group joint venture currently operates fourteen A320-200s on flights to 17 cities and towns across India and will be eligible for international flights once its fleet surpasses 20 aircraft, now likely to occur in either late 2018/early 2019.

"We are right now at 14 aircraft. The 15th comes in on February 24 and we have got six more on order this year. This will allow us to be a designated international carrier and then every year subsequent we will continue to add about 8-10 aircraft depending on how we perform as a business. They will be deployed both domestically and internationally," he added.

Abrol said a "significant" number of the 70 aircraft would likely be purchased, while the rest will be leased. Of its current fleet of 14 aircraft, 12 are leased with only two owned.

On AirAsia Group founder and CEO Tony Fernandes' recent comments to the effect that AirAsia India was looking to hold an IPO, Abrol said the company had yet to appoint a banker to start the process and that a decision to that effect will come from the board.