AirAsia Indonesia, the Indonesian subsidiary of Asia’s biggest budget airline, will postpone its initial public offering (IPO) until 2012 due to the global economic slowdown.
In March 2011 the airline announced plans for a public listing in the final quarter of the year. AirAsia Indonesia hoped to raise up to $200 million and named CIMB Securities Indonesia and Credit Suisse Securities Indonesia as its joint-lead underwriters.
However, on December 12, 2011, AirAsia Indonesia’a corporate communication manager Audrey Petriny stated “”The preparation for IPO is going well, but we decided to postpone it due to inconducive global economic conditions.” She said the 2012 launch date would depend on the “progress of the global economy”.
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”. She added that “We want to do the initial public offering at the right time.”
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. AirAsia Indonesia currently operates a fleet of 16 Airbus and aims to add 20 more planes by 2015.