AirAsia may do IPO in PH by 2016

by Michelle Ong, ANC

Posted at Mar 18 2015 09:31 AM | Updated as of Mar 18 2015 05:31 PM

MANILA -- Malaysia-based AirAsia, the largest budget carrier in the region, could list at the Philippine Stock Exchange (PSE).

AirAsia CEO Tony Fernandes tweeted on Tuesday that AirAsia sales have been "great" in the Philippines and Indonesia, and he may consider an IPO in both countries.

"Great sales in Indonesia and Philippines. May reconsider IPO both countries. Thailand and Malaysia since advertising having record sales," he said.

Joy Caneba, CEO of AirAsia's Philippine unit, said the group discussed a local IPO as recently as 2 weeks ago.

"We discussed this two weeks back and we feel that with the improvement on performance we can now consider an IPO for Philippines AirAsia," she said.

Caneba said if things go according to plan, it will likely happen next year.

AirAsia, which is listed in Malaysia, has also considered listing in Thailand.

Its shares are down over 6.5 percent this year, after an AirAsia Indonesia plane figured in a crash over the Java Sea in December.

AirAsia also just reported its first quarterly loss in two years.

Fernandes said he expects low fuel prices to boost operations this year.