Long-haul low-cost airline AirAsia X plans to list shares by 2012, so it will be easier to raise funds for expansion AirAsia CEO Tony Fernandes has said.
He told Reuters: "An airline cannot grow capital without being public, and so most definitely AirAsia X will be listed. I hope this year or next year." The statement comes after Thai AirAsia and AirAsia Indonesia recently announced plans to launch IPOs later in 2011. Mr Fernandes had mentioned previously he planned to list AirAsia X, without providing a timeframe.
AirAsia's shares fell 1.1% yesterday. Tiger Airways eased 0.7%, while Cebu Pacific lost a further 2.8%.
Selected LCCs daily share price movements (% change): 30-Mar-2011
Want more analysis like this? CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find out more and take a free trial.