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Airline IPO activity increases as market conditions improve but oil threatens

10-Mar-2011

There are more than 30 airlines around the world publicly talking of conducting an IPO to help diversify funding sources, coinciding with improved demand and economic conditions. Aircraft deliveries are also accelerating, with more than 1400 aircraft scheduled for delivery this year alone, prompting the need for additional financing. However, concerns over rising fuel costs in recent weeks have had affected oil prices and, hence, the attractiveness of airlines. [6819 words]

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Subheadings:

  • Airline shares under-perform by around 10% as oil prices surge
  • Airlines of all shapes and sizes coming to the market
  • AFRICA
  • Precision Air to list in Mar or Apr-2011
  • Rwandair on government privatisation list: No date specified
  • ASIA PACIFIC
  • AirAsia X IPO plans on track
  • Cebu Pacific undertakes share buy-back to stem declines following IPO
  • Garuda never considered delaying IPO: CEO
  • HNA Group to raise USD1.5bn in Grand China Air listing
  • Indonesia AirAsia plans to raise up to USD200m in 4Q2011
  • Lion Air plans IPO in 2012
  • Spring Airlines to restart IPO plans, hires UBS
  • Thai AirAsia plans to raise at least USD150m
  • Vietnam Airlines yet to reveal timing for IPO
  • EUROPE
  • LOT Polish Airlines to be floated in Mar-2011
  • Pegasus to sell up to 36% in IPO
  • TAP Portugal to be privatised in Mar-2012
  • Transaero defers IPO until 2011
  • Turkey's Privatisation Board selects advisers for Turkish Airlines stake sale
  • MIDDLE EAST
  • Bahrain to sell Gulf Air stake to private investors
  • Egyptair states no IPO in immediate future
  • flydubai has no date finalised
  • Kuwait Airways in final stages of preparation for public share sale
  • Middle East Airlines delays IPO
  • nasair looks towards 2012 or 2013
  • Oman Air may consider IPO in five to 10 years
  • Qatar Airways to launch IPO early 2012
  • Saudi Arabian Airlines' privatisation progressing
  • NORTH AMERICA
  • Porter Airlines to revisit IPO in 1H2011
  • Spirit Airlines to list as SAVE on NASDAQ
  • SAARC
  • GMG Airlines puts out investor memorandum
  • IndiGo considers IPO to finance Airbus order
  • SOUTH AMERICA
  • Aerolineas Argentinas unions oppose privatisation attempt
  • Aeromexico plans IPO in 2011
  • Interjet considers IPO or stake sale to foreign partner  
  • LAN Peru offering affected by new capital gains tax   
  • Pluna plans for IPO in US in 2013-15
  • Volaris shuffles board amid IPO talk
  • Webjet files to sell shares in Brazil IPO

Graphs and data:

  • Bloomberg Airlines Index: Aug-2004 to Feb-2011
  • Jet fuel and crude oil prices (USD/barrel)
  • Precision Air existing and on order fleet: Mar-2011
  • Rwandair fleet: As at 07-Mar-2011
  • AirAsia X in service and on order fleet: Mar-2011
  • AirAsia X international capacity by region (07-Mar-2011 to 13-Mar-2011)
  • Cebu Pacific share price trend over the past six months
  • Lion Airlines current and on order fleet
  • Spring Airlines in service and on order fleet: as at Mar-2011
  • Vietnam Airlines fleet (at 07-Mar-2011)
  • Aeromexico fleet (at 07-Mar-2011)
  • Aeromexico international capacity by region (07-Mar-2011 to 13-Mar-2011)
  • InterJet in service and on order fleet summary: Mar-2011
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