AirAsia plans over $200m IPO for Philippine unit this year

AirAsia Group CEO Tony Fernandes speaks during a group news conference in Tokyo July 1, 2014. REUTERS/Issei Kato

The Philippine unit of AirAsia Group Bhd hopes to push through with its initial public offering this year to raise more than $200 million to expand capacity, the regional carrier’s chief executive said on Thursday.

“We’re getting close. Hopefully we can do it this year,” AirAsia Group CEO Tony Fernandes told reporters.

The low cost carrier is planning to raise an amount “far greater” than previous plans, including a $200 million target previously announced, Fernandes said.

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Reuters