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AirAsia planning dual-listing by year's end; Thai AirAsia also planning listing

27-May-2010 10:46 AM

AirAsia CEO, Tony Fernandes, stated the group is planning a dual-listing on the Stock Exchange of Thailand by the end of this year or next year (Wall Street Journal, 26-May-2010). Mr Fernandes added the group is not working on any further acquisition deals at present, after recently acquiring a stake in VietJet Aviation. The carrier also plans to launch services to the Maldives this year, while AirAsia X plans to launch services to Incheon and Tokyo by year-end. Thai AirAsia also plans to list in Thailand in 1Q2011, to raise funds to strengthen its financial position and expansion. CEO, Tassapon Bijleveld, stated the carrier expects to report a profit of more than USD30.7 million for FY2010, due to a strong first quarter. It also expects to reach its passenger target of 6.2 million and revenue target of USD368 million for the year. Traffic is expected to improve in 3Q2010 and 4Q2010 once the political situation in Thailand improves.

Thai AirAsia: "It's worth noting that the unrest occurs in the low season, so the effect on our traffic isn't that severe. Imagine the same incident happened in the first or the fourth quarter, during the high season, we would be in a much more difficult situation," Tassapon Bijleveld, CEO. Source: Wall Street Journal, 26-May-2010.