Print
03
Oct

Philippines AirAsia pushes IPO back to mid-2018

Share

By Patrizia Paola C. Marcelo | BusinessWorld Online

ILOILO CITY — Philippines AirAsia, Inc. is looking to conduct its initial public offering (IPO) by mid-2018.

“BDO’s working on it, hopefully by the middle of next year, we’ll be able to get it,” Philippines AirAsia Chief Executive Officer Dexter M. Comendador told reporters on Sunday, referring to BDO Capital and Investments Corp. which has been tapped as underwriter for the deal.

Mr. Comendador said the company expects to raise up to $250 million from the public offering, which will be used mainly to expand its facilities.

“We need hangars, we need a new office building,” he said, adding the new office of Philippines AirAsia would be located most likely in Clark, Pampanga.

AirAsia Group Chief Executive Officer Tony Fernandes earlier said the planned IPO of the Philippine and Indonesian units is part of a plan to consolidate its Southeast Asian units under one listed holding company.

“Our first step is to list Philippines and Indonesia for my One AirAsia plan, where we have all the AirAsia units go public. Malaysia and Thailand are public. Not sure which one will come first, Philippines or Indonesia, but both are going to go public very soon,” Mr. Fernandes  said at the sidelines of the International Paris Air Show in June.

Under the One AirAsia plan, Mr. Fernandes said he wants to form an ASEAN (Association of Southeast Asian Nations) community airline by combining its units in Malaysia, Thailand, Philippines and Indonesia under a single holding company. The move is expected to yield economies of scale and help AirAsia establish a dominant position in markets where it operates.

NEW FLIGHTS
On Sunday, AirAsia launched the maiden flight of its Manila-Iloilo route. The low-cost carrier will service the route with three flights daily using its fleet of Airbus A320s that can accommodate up to 180 passengers.

At the same time, AirAsia is also planning to launch new flights from Manila to Indonesia in the first quarter of 2018.

Mr. Comendador told reporters AirAsia will launch direct flights from Manila to Bali and Jakarta by January and February.

The budget carrier will also mount direct flights from Manila to Ho Chi Minh City in Vietnam starting November.

In May, the AirAsia Group reported that the Philippine unit posted an operating profit of P400 million in the first quarter of 2017, attributed to a rise in passenger count by 19% and surge in revenues by 41%.

CAB Hotline

Public Assistance 24/7

165-66

Secondary Numbers

PRAD NAIA Terminal1 0919-9128457 PRAD Laguindingan 0919-9128468
PRAD NAIA Terminal2 0919-9128458 PRAD Laoag Airport 0998-5864834
PRAD NAIA Terminal3 0919-9128451 PRAD Legaspi Airport 0919-9128461
PRAD NAIA Terminal4 0919-9128470 PRAD Mactan-Cebu Int'l. 0919-9128464
PRAD Bacolod Airport 0998-5864828 PRAD Naga Airport 0919-9128462
PRAD Basco Airport 0998-5864829 PRAD Ozamis Airport 0998-5864835
PRAD Boracay Airport 0919-9128453 PRAD Pagadian Airport 0998-5864836
PRAD Busuanga Airport 0919-9128460 PRAD Puerto Princessa 0998-5864837
PRAD Butuan Airport 0998-5864830 PRAD Roxas Airport 0998-5864838
PRAD Camiguin Airport 0998-5864831 PRAD Siargao Airport 0919-9128456
PRAD Clark Int'l .Airport 0919-9128471 PRAD Surigao Airport 0998-5864839
PRAD Davao Int'l. Airport 0919-9128469 PRAD Tacloban Airport 0998-5864840
PRAD Dipolog Airport 0998-5864832 PRAD Tagbilaran Airport 0919-9128465
PRAD Dumaguete Airprot 0998-5864833 PRAD Tuguegarao Airport 0998-5864841
PRAD General Santos 0919-9128467 PRAD Virac Airport 0919-9128463
PRAD Iloilo Int'l .Airport 0919-9128466 PRAD Zamboanga Airport 0998-5864842
PRAD Kalibo Int'l. Airport 0919-9128454

✆ 852-8967 (CAB Legal Office)
APBR@cab.gov.ph

Trunk Lines:
☎ (+632) 853-7259
☎ (+632) 854-5996

*PRAD - Passenger Rights Action Desk

PRAD NAIA Terminal1 0919-9128457 PRAD Laguindingan 0919-9128468
PRAD NAIA Terminal2 0919-9128458 PRAD Laoag Airport 0998-5864834
PRAD NAIA Terminal3 0919-9128451 PRAD Legaspi Airport 0919-9128461
PRAD NAIA Terminal4 0919-9128470 PRAD Mactan-Cebu Int'l. 0919-9128464
PRAD Clark Int'l .Airport 0919-9128471 PRAD Naga Airport 0919-9128462
PRAD Bacolod Airport 0998-5864828 PRAD Ozamis Airport 0998-5864835
PRAD Basco Airport 0998-5864829 PRAD Pagadian Airport 0998-5864836
PRAD Boracay Airport 0919-9128453 PRAD Puerto Princessa 0998-5864837
PRAD Busuanga Airport 0919-9128460 PRAD Roxas Airport 0998-5864838
PRAD Butuan Airport 0998-5864830 PRAD Siargao Airport 0919-9128456
PRAD Camiguin Airport 0998-5864831 PRAD Surigao Airport 0998-5864839
PRAD Davao Int'l. Airport 0919-9128469 PRAD Tacloban Airport 0998-5864840
PRAD Dipolog Airport 0998-5864832 PRAD Tagbiliran Airport 0919-9128465
PRAD Dumaguete Airprot 0998-5864833 PRAD Tugeugarao Airport 0998-5864841
PRAD General Santos 0919-9128467 PRAD Virac Airport 0919-9128463
PRAD Iloilo Int'l .Airport 0919-9128466 PRAD Zamboanga Airport 0998-5864842
PRAD Kalibo Int'l. Airport 0919-9128454