The airline — a three-way joint venture between Malaysia's AirAsia Berhard, Tata Sons and Arun Bhatia's Telestra Tradeplace — has been facing stiff competition in the domestic market. According to latest financial numbers announced by AirAsia Berhard, its associate company — AirAsia India — recorded a net loss of nearly Rs 65 crore in the latest September quarter. "AirAsia India recorded a net loss of RM41.3 million (quarter ended September 30, 2014: RM15.7 million) in the quarter under review (July-September 2015) out of which RM29.7 million is equity accounted in the AirAsia Berhad income statement," the Malaysian carrier said. Based on the exchange rate of nearly Rs 64 for one Malaysian Ringgit (RM), the latest September quarter's net loss translates to nearly Rs 65 crore. For the year-ago period, the figure would be Rs 25 crore.