AirAsia's CEO: Thailand and Indonesia Continue to Perform Strongly

KUALA LUMPUR, KOMPAS.com - AirAsia Bhd., Southeast Asia's largest budget airline by fleet size, said Tuesday its Thailand unit--Thai AirAsia--will file an application with the regulators aiming for a listing early in the first quarter of 2012.

In March, the carrier announced a plan to float a stake of at least 25% of Thai AirAsia on the Bangkok stock exchange to raise at least $150 million in the fourth quarter of 2011. AirAsia owns 49% of Thai AirAsia, while the remaining 51% is owned by its Thai management.

The low-cost airline also said the initial share sale of its Indonesian unit will follow shortly after the listing of Thai unit. The company is aiming to raise $200 million from the Indonesia listing.

“Both IPOs are on schedule with regards to due diligence process and the seeking of regulatory approval. We have always maintained the actual listing will be dependent on market conditions. In short, both Thailand and Indonesia continues to perform strongly heading into 2012,,“ Chief Executive Tony Fernandes said in a statement.