AirAsia sees IPOs of In­done­sia, Philip­pines units by 2018

The Myanmar Times - - Business - – The Star

AIRASIA group CEO Tan Sri Tony Fer­nan­des says the ini­tial share sale plans of the In­done­sia and Philip­pines units are pro­ceed­ing well.

He was quoted say­ing in Manila on Tues­day the IPO for In­done­sia is pos­si­ble be­fore year end and likely next year.

“There are no reg­u­la­tory hur­dles to Philip­pine IPO, which will likely hap­pen in mid-2018”, he said at a brief­ing to in­tro­duce AirAsia’s ‘I love Asean’ logo for group’s 50th an­niver­sary.

AirAsia is plan­ning more Asean routes to Davao City, with first route from Kuala Lumpur to Davao by De­cem­ber, Bloomberg re­ported.

Air­line also look­ing at Kota Kin­a­balu-Davao and Asean to Puerto Princesa.

Fer­nan­des was also quoted say­ing the Philip­pine govern­ment should con­sider re­mov­ing air­port tax in cities out­side Manila to boost tourism traf­fic.

AirAsia, which is seek­ing to match size of ri­val Cebu Air, has had tough time in Philip­pines, “we haven’t been warmly wel­comed by the in­cum­bent which we’d ex­pect but we’ve hang in there, we’re do­ing a good job now and we’ll re-grow that will take us to 18 air­craft”.

Fer­nan­des said Asean’s mar­ket of 700 mil­lion peo­ple “gives us a much bet­ter chance to com­pete against the world’’.

Photo: The Star

AirAsia group CEO Tan Sri Tony Fer­nan­des says the ini­tial share sale plans of the In­done­sia and Philip­pines units are pro­ceed­ing well.

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