Philippines AirAsia IPO postponed to 2018 — report

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KUALA LUMPUR (Sept 11): AirAsia Bhd said Philippines AirAsia has postponed its planned US$200 million (about RM840 million) initial public offering (IPO) to 2018 to further expand Philippines AirAsia's business, Philippine Daily Inquirer reported today.

Philippine Daily Inquirer, quoting AirAsia Bhd's presentation to investors, reported Philippines AirAsia had continued to show “strong load factor and fares”. It was reported that Philippines AirAsia had added seven new routes and increased frequencies for certain destinations this year.

Philippine Daily Inquirer quoted AirAsia Bhd as saying Philippines AirAsia is “going ahead with listing plans in 2018 for further expansion, to serve the strong travel demand.”

Philippine Daily Inquirer reported AirAsia Bhd group chief executive officer Tan Sri Tony Fernandes had said June this year that Philippines AirAsia had originally scheduled its IPO in 2017's second half.