AirAsia (AK, Kuala Lumpur International) founder and Group CEO Tony Fernandes has announced that subject to board approval, the Malaysian carrier's Indonesia AirAsia (QZ, Jakarta Soekarno-Hatta) and AirAsia Philippines (Manila Ninoy Aquino International) subsidiaries will be taken public.
Speaking via social media, Fernandes said both entities were "doing real well" and were getting "great support from both [the Filipino and Indonesian] governments."
AirAsia owns 49% of Indonesia AirAsia and 40% of AirAsia Philippines.
The Indonesian unit had planned to hold an IPO in July last year only to abandon it owing to its then unprofitability.
In February, AirAsia Philippines secured Manila's approval to go ahead with the acquistion of a majority 51% shareholding in Zest Airways, Inc. t/a AirAsia Zest (Manila Ninoy Aquino International). Once all outstanding regulatory approvals have been secured, AirAsia Zest will rebrand and operate as AirAsia Philippines thereby unifying the AirAsia brand in the Philippines.
