AirAsia confirms plans to float AirAsia X
AirAsia CEO, Tony Ferndandes, stated the group plans to float AirAsia X as he is seeing “a bit of contamination” between the way AirAsia and AirAsia X are operated (City AM, 06-Sep-2010). The carrier will list in Malaysia and possibly in London or New York. The CEO declined to disclose how much of the business will be sold to outside investors, but AirAsia's 16% stake in AirAsia X will be “treated as an investment” and sold down gradually. However, the two airlines will not be full separated and will continue to share a website and four executives, including Mr Fernandes, will remain on a board for both carriers.
AirAsia: “The patterns of the pilots and cabin crew are different on short-haul and long-haul airlines. Both airlines need differing amounts of ground crew, because there is less luggage in the hold on short-haul. Also the approach to marketing is different on both carriers,” Tony Ferndandes, CEO. Source: City AM, 06-Sep-2010.