AirAsia may reportedly raise as much as USD400 million from separate listings of its Indonesian and Thai units, the company expects to raise USD150 million to USD200 million in each offering, both of which will likely happen in 4Q2011. The carrier is seeking funding to order new aircraft, possibly including 175 of Airbus planned A320neo. Shares in AirAsia were 6% higher at the close of trading on Friday.
Elsewhere, shares in SpiceJet jumped 7.4%. Indian airline shares gained ground, following speculation that the Indian Finance Ministry may be considering relaxing the foreign direct investment rules in the aviation sector.
Selected PEA daily share price movements (% change): 25-Feb-2011