Tony tweets to confirm AirAsia’s IPOs on track for listing

Just landed: An AirAsia Indonesia Airbus A320 is towed after it made its first landing at Husein Sastranegara Airport in Bandung on April 6, 2011. Asia's biggest budget carrier, AirAsia, has reaffirmed Wednesday that the proposed initial public offering (IPO) of its Indonesian and Thailand affiliates is on schedule, clarifying a foreign news report that stated otherwise. (JP/Arya Dipa)

The story, quoting a spokeswoman, reported that AirAsia Indonesia's IPO had been postponed until next year due to the global economic slowdown.

AirAsia group chief executive officer Tan Sri Tony Fernandes tweeted that the spokeswoman was misquoted.

“Indonesian IPO (is) exactly on schedule. First IPO will be Thailand followed by Indonesia. Both companies (are) doing extremely well.”

A statement issued by the low cost carrier Tuesday said that Thailand was submitting its application to regulators for an early first quarter 2012 market listing, with Indonesia following suit shortly after.

In the same statement, Fernandes reiterated that both IPO's were on schedule with regards to the due diligence process and the seeking of regulatory approval.

“We have always maintained the actual listing will be dependent on market conditions. In short, both Thailand and Indonesia continue to perform strongly heading into 2012,” he said.

The airline had in March announced that its unit, AirAsia Indonesia, aimed to raise US$150 million to $200 million via an IPO in the fourth quarter this year, with Credit Suisse and CIMB Securities Indonesia appointed as joint lead underwriters for the exercise.

According to reports, proceeds from the IPO would be used to expand the airline's fleet and as working capital. (nvn)