AirAsia plans to raise USD600 million in Indonesia, Philippine listings
Low cost carrier AirAsia hopes to raise up to $600 million in a planned listing of its Indonesia and Philippine airline units.
AirAsia group CEO Tony Fernandes hopes to value each at about $1 billion and offer stakes of between 20-30% in each.
No date has been set for the listings but it is expected to take place before mid-2016, with an announcement planned within the next two months.
"There’s tremendous new tourism opportunities and secondary cities in Indonesia are booming," Fernandes said.
"We are very bullish about developing new international links out of the secondary and third-tier cities in this wide country."
AirAsia would again try to set up a Japanese affiliate next year, Fernandes said after a failed partnership attempt with AHA Holdings in 2013.
Recently AirAsia announced a planned joint venture with Japan’s largest e-commerce company Rakuten.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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