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11
Sep

AirAsia PH unit’s planned IPO postponed to 2018

Written by bh0ngg. Posted in News

This was revealed in a presentation to investors by operator Air Asia Berhad of Malaysia.

Philippines Air Asia was earlier planning to hold a $200- million initial public offering within the second half of 2017, Air Asia Group CEO Tony Fernandes said in June.

This was to partly fund its expansion and to launch new routes. AirAsia’s Philippine unit controls about 10 percent of the domestic market, which is still dominated by flag carrier Philippine Airlines and budget airline Cebu Pacific Air.

In its presentation to investors, Air Asia noted that Philippines Air Asia had continued to show “strong load factor and fares.” It said the carrier had added seven new routes and increased frequencies for certain destinations this year.

As such, it said the unit was “going ahead with listing plans in 2018 for further expansion to serve the strong travel demand.”

Philippines Air Asia is targeting revenue to hit P13 billion in 2017, up by about 20 percent from the P10.8 billion booked in 2016, its CEO Dexter Comendador said in a previous interview.

He said 2017 was poised to be the company’s “best year in our existence.” Philippines Air Asia started in 2012 and it has grown organically and via acquisitions.

It completed in 2015 an investment in and merger with Zest Airways, a move that gave it access to valuable slots in the Ninoy Aquino International Airport, the Philippines’s busiest air gateway.

Comendador said the domestic fleet would grow to 70 planes in 15 years, or by 2032. It had 15 Airbus A320s at the end of 2016.

He said the plan was also to increase its presence in Clark International Airport in Pampanga. After temporarily suspending its Clark service in 2013 to focus on Manila, Philippines Air Asia resumed flights from Clark to Kalibo on March 27, 2017.

The group is banking on its “One AirAsia” strategy, which will see all of its regional units consolidated under a single company, which will also be listed.

The group is planning to have a total of 500 planes by 2027.

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Boracay Airport 0919-9128453 Ozamis Airport 0998-5864835
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Camiguin Airport 0998-5864831 Roxas Airport 0998-5864838
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Davao Int'l. Airport 0919-9128469 Surigao Airport 0998-5864839
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General Santos 0919-9128467 Tuguegarao Airport 0998-5864841
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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

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