AirAsia India Announces New CEO

AirAsia India has appointed a new chief executive as part of a management shake-up, as the carrier seeks to boost its market share and turn a profit in a fiercely competitive market.

The airline, part-owned by Malaysian carrier AirAsia and India's Tata Sons conglomerate, said in a statement that former American Express executive Amar Abrol will take over as chief executive.

He takes over from Mittu Chandilya who is stepping step down at the end of this month after almost three years in the job.

Abrol was most recently the CEO of a financial products start-up and spent 19 years at American Express, AirAsia India said.

The airline, which has struggled to make money since it launched in mid-2014, also announced the appointment of former Air France-KLM executive Ankur Khanna as chief financial officer, and Kiran Jain as its head of commercial operations.

The carrier competes with IndiGo, SpiceJet and GoAir in India's fast-growing air travel market, operating six aircraft covering 12 routes. Its market share stood at 2.3 percent in January, official data shows, ranking it sixth among India's airlines.

Last year it put domestic growth plans on hold as it waited for a government ruling on whether to change laws regulating overseas flights.