Bangkok (TAN): AirAsia Group CEO Tony Fernandes has said the company was in no hurry to make the airline’s Philippines unit go public.
“It’s there, but with no particular rush to be honest. We want to maximise the valuation, so you know after a very tough start our earnings are very strong, the fuel price is going down, tourism is going up. We also see potential in new airports being developed,” he told reporters in the Thai capital earlier this month, Business Mirror said.
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“There is no particular rush but we can do it anytime now. We will just wait and see. All I can tell you from a management point of view [is] we don’t need to do it. But I’ll leave that to the experts,” he added.
Speculations about the initial public offering (IPO) of Philippines AirAsia have been doing the round for some time now.
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In early May 2019, Fernandes, talking about the IPO, had said, “We’re getting close. Hopefully, we can do it this year.”
According to The Manila Times, Philippines AirAsia posted a first-quarter EBITDA this year of PHP450 million (USD8.58 million).
