AirAsia plans IPOs for Indonesian, Philippines affiliates
Budget carrier AirAsia Group said it plans to press ahead with the public listing of its Indonesian and Philippine units, subject to prior board approvals.
"We can confirm today that AirAsia Indonesia and AirAsia Philippines will have an IPO subject to respective board approvals," Group CEO Tony Fernandes said on Twitter.
"Business in both Philippines and Indonesia is doing really well. Great support from both governments," he added.
AirAsia Group owns 49%of Indonesia AirAsia and 40% of AirAsia Philippines.
Fernandes declined to confirm a timeline for the listings or the amount it hopes to raise through the public offerings.
AirAsia mulled an IPO for its Indonesian business last year but scrapped plans due to sluggish performance.
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