By P Prem Kumar
KUALA LUMPUR
Low-cost carrier AirAsia is planning to separately list its affliate airlines in Indonesia and the Philippines, group CEO Tony Fernandes announced Monday.
Without divulging any timeline or value expected to be raised, Fernandes tweeted that the IPO proposals are with the respective companies' boards for approval.
"We can confirm today that AirAsia Indonesia and AirAsia Philippines will be IPO. Subject to respective board approvals," he said.
He added that both businesses were doing very well, with great support from the governments of both countries.
AirAsia - Asia's largest budget airline by passenger volume - owns 49 percent of Indonesia AirAsia and 40 percent of AirAsia Philippines.
Last year, the carrier scrapped a planned IPO for loss-making Indonesian affiliate, PT Indonesia AirAsia, as it was "not making money," The Malaysian Reserve quoted Fernandes as saying.
Oct.-Dec. 2014 saw the company post its first quarterly loss in two years on foreign-exchange losses and higher financing costs.
AirAsia Flight QZ8501 crashed into the Java Sea Dec. 28 last year, killing the 162 passengers and crew on board.
