Air Asia Philippines postpones US$200m IPO to 2018

AirAsia's Philippine unit said on Tuesday (Oct 27) it would push back a planned initial public offering to 2018 from 2016 while it tries to make its operations profitable.
AirAsia's Philippine unit said on Tuesday (Oct 27) it would push back a planned initial public offering to 2018 from 2016 while it tries to make its operations profitable.PHOTO: BLOOMBERG

MANILA (REUTERS) - AirAsia Bhd's Philippine unit said on Tuesday (Oct 27) it would push back a planned initial public offering (IPO) to raise as much as US$200 million (S$278.4 million) to 2018 from 2016 while it tries to make its operations profitable.

"The IPO will definitely happen, (but) I think we will have to defer that to 2018, first quarter," AirAsia Philippines chief executive officer Josephine Joy Caneba said at a media briefing.

AirAsia Philippines plans to lease five A320 aircraft from its Malaysian parent to launch flights to China next year, she added.