AirAsia Indonesia IPO to raise $200m

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Indonesia-AirAsiaThe bourse debut of AirAsia’s Indonesian subsidiary, Indonesia AirAsia, slated for the fourth quarter of 2013, is expected to raise $200 million, the airline’s CEO Tony Fernandes told media on June 6 on the sidelines of the World Economic Forum on East Asia, which is being held in Myanmar’s capital Naypyitaw.

The size of the initial public offering (IPO) would be slightly bigger than Thai AirAsia’s debut in 2012 at the Stock Exchange of Thailand. Another IPO of AirAsia’s group companies is expected with AirAsia X at Bursa Malaysia on June 10, 2013. The share price has been set at RM1.45, which would raise more than $300 million.

In Indonesia, AirAsia is competing with rapidly growing low-cost carrier Lion Air which is on an aggressive expansion drive and also has said it wants to start a subsidiary in Thailand, Thai Lion Air.

Meanwhile, Thai AirAsia said it will commence direct flights from Bangkok to Naypyitaw  from October 2013, being the first carrier to directly connect the two capitals. Currently, AirAsia offers three daily flights between Bangkok and Yangon, and one daily flight between Bangkok and Mandalay. In addition to Thailand, the low-cost airline also connects Yangon to Kuala Lumpur via one daily flight.

Fernandes said that AirAsia plans to carry up to 30 per cent of tourists visiting Myanmar in the future. The carrier is targeting to move 500,000 passengers to the country in 2013.

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Reading Time: 1 minute

The bourse debut of AirAsia’s Indonesian subsidiary, Indonesia AirAsia, slated for the fourth quarter of 2013, is expected to raise $200 million, the airline’s CEO Tony Fernandes told media on June 6 on the sidelines of the World Economic Forum on East Asia, which is being held in Myanmar’s capital Naypyitaw.

Reading Time: 1 minute

Indonesia-AirAsiaThe bourse debut of AirAsia’s Indonesian subsidiary, Indonesia AirAsia, slated for the fourth quarter of 2013, is expected to raise $200 million, the airline’s CEO Tony Fernandes told media on June 6 on the sidelines of the World Economic Forum on East Asia, which is being held in Myanmar’s capital Naypyitaw.

The size of the initial public offering (IPO) would be slightly bigger than Thai AirAsia’s debut in 2012 at the Stock Exchange of Thailand. Another IPO of AirAsia’s group companies is expected with AirAsia X at Bursa Malaysia on June 10, 2013. The share price has been set at RM1.45, which would raise more than $300 million.

In Indonesia, AirAsia is competing with rapidly growing low-cost carrier Lion Air which is on an aggressive expansion drive and also has said it wants to start a subsidiary in Thailand, Thai Lion Air.

Meanwhile, Thai AirAsia said it will commence direct flights from Bangkok to Naypyitaw  from October 2013, being the first carrier to directly connect the two capitals. Currently, AirAsia offers three daily flights between Bangkok and Yangon, and one daily flight between Bangkok and Mandalay. In addition to Thailand, the low-cost airline also connects Yangon to Kuala Lumpur via one daily flight.

Fernandes said that AirAsia plans to carry up to 30 per cent of tourists visiting Myanmar in the future. The carrier is targeting to move 500,000 passengers to the country in 2013.

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