Philippines AirAsia looking to revive IPO plans

MANILA: The Philippines unit of AirAsia owner Capital A Bhd is looking at an initial public offering next year, its CEO said on Monday, reviving a fundraising plan hatched in 2015 but shelved numerous times because of market volatility.

"We definitely need to raise some capital and that is one of the strongest options that we have," Capital A CEO Tony Fernandes told ANC news channel.

The company will re-engage with local banks, he added.

AirAsia will continue to make fares competitive and pursue new destinations despite threats of recession in developed nations, Fernandes said.

The low-cost airline, which started Philippine operations in 2012, was looking at raising up to $250 million in 2018. - Reuters

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!


Next In Business News

Development of AHTV to herald benefits for numerous sectors
BFood aims higher amid rising competition
Steady outlook for luxury condominium segment
Long way to go for Malaysian carbon market
Sime Darby cements its position as key auto player
CEO shares insights into group’s outlook
SC unveils measures to attract foreign investors
Bearish stance on bonds and currency
Wall St set for slight rebound with focus on Fed speakers, economic data
Govt should institute bolder tax reforms to meet deficit target

Others Also Read