Philippines AirAsia looking to revive IPO plans

MANILA: The Philippines unit of AirAsia owner Capital A Bhd is looking at an initial public offering (IPO) next year, its chief executive officer (CEO) says, 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 Tan Sri 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 its Philippine operations in 2012, had been looking at raising up to US$250mil (RM1.1bil) in 2018. — Reuters

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


Next In Business News

BNM: Micro, small businesses to continue enjoying zero-cost transactions via DuitNow QR payments
Hong Leong Bank to continue to waive transaction fees for DuitNow QR payments
Public Mutual declares over RM47mil for two funds
Budget 2024: A tough balancing act for Anwar
Marine & General cautiously optimistic about FY24 performance
WtE space heats up
CPO price set to recover
Private hospitals, insurers stirred as claims rise
Fit for expansion
Streamlining a business practicality

Others Also Read