AviationBudget carrier to sell off almost one third of the business

AirAsia IPO draws closer

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AirAsia IPO draws closer

Low-cost carrier AirAsia Bhd is planning an initial public offering (IPO) for its Indonesian business early next year that will raise about US$300 million.

Low-cost carrier AirAsia Bhd is planning an initial public offering (IPO) for its Indonesian business early next year that will raise about US$300 million.

It plans to sell a 30% stake in the Indonesian carrier, group chief executive Tony Fernandes told Reuters at the World Economic Forum in Jakarta.

Fernandes said a share sale for AirAsia’s Philippine arm will follow, according to Bloomberg, which also reported the airline is hoping to take advantage of rapid air passenger growth in the Asia-Pacific. 

“There are tremendous new tourism opportunities, and secondary cities in Indonesia are booming. We are very bullish about developing new international links out of the secondary and third-tier cities in this wide country,” Fernandes said in an interview with the news agency.

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