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