AirAsia X may delay IPO to 2012 as fuel prices bite

AirAsia X's proposed IPO may be delayed to sometime in 2012 instead of the original 2H2011 (Business Times, 11-May-2011). CEO Azran Osman-Rani stated "We have not finalised the appointment of advisers, so surely we cannot finalise the (actual) timing now," adding that the cost of fuel plays a pertinent role in the timing of the listing. As many as 11 banks are interested in becoming listing advisers, with reports of it being between USD250 million and USD400 million in size and IPO will be a dual-listing one. The banks have yet to be shortlisted and an announcement on this is not expected anytime soon.