AirAsia Indonesia postpones IPO to 2012

The Indonesian subsidiary of Asia’s biggest budget carrier AirAsia will
postpone its initial public offering (IPO) until next year due to the
global economic slowdown, its spokeswoman said today.



The airline in March announced plans for a public listing in the
final quarter of this year, hoping to raise up to US$200 million.



It also named CIMB Securities Indonesia and Credit Suisse Securities Indonesia as its joint-lead underwriters.



“The preparation for IPO is going well, but we decided to postpone
it due to inconducive global economic conditions,” AirAsia Indonesia’s
corporate communication manager Audrey Petriny told AFP.







She was unable to provide details of when the IPO would be launched next
year as it would depend on “progress of the global economy”.


“We want to do the initial public offering at the right time,” she said.



AirAsia Indonesia currently operates a fleet of 16 Airbus and aims to add 20 more planes by 2015.



Malaysia-based AirAsia opened its regional headquarters in Jakarta
in October to exploit Southeast Asia’s largest market and extend its
reach in the region.



The airline’s 2010 full-year net profit reached RM1.07 billion
(US$340 million), nearly double that of 2009. However, its net profit
within the third quarter of this year fell 53 per cent to RM152.3
million due to higher fuel prices and staff costs. -- AFP