AirAsia X seeks IPO for Thai arm in line with revamp

Fernandes: AirAsia X will be doing a group structure as well. — Reuters

SINGAPORE: Long-haul carrier AirAsia X Bhd will pursue an initial public offering (IPO) of its Thai arm “soon” as it looks to restructure itself into a group holding company along the lines of affiliate AirAsia Group Bhd, according to co-CEO Tan Sri Tony Fernandes.

In a series of tweets a day after AirAsia X expanded a jet order to 100 Airbus SE A330neo widebodies worth US$30bil, Fernandes also said the airline would report “pain” in the second and third quarters as it cancelled ineffective routes and business partnerships to focus on building a sustainable model.