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AirAsia prepares public offering in PH, taps BDO

ILOILO CITY―The Philippine unit of Southeast Asia’s largest budget carrier said it will conduct an initial public offering by the middle of next year.

“BDO (Capital Investment) is working on it. Hopefully, by middle of next year,” Captain Dexter Comendador, AirAsia Philippines chief executive, told reporters.

Commendador said the company plans to raise about $250 million, with the proceeds to be allocated for the acquisition of new aircraft, building, a hangar and a new headquarter in Clark.

“I’m ending the year with 26 planes by next year,” he added.

Philippines Air Asia operates a fleet of 17 aircraft with domestic and international flights out of hubs in Manila, Cebu and Kalibo. 

Commendador also said the airline planned to fly to Incheon in South Korea from Clark by January or February next year.

“We are also planing to fly to Taipei, China, Kuala Lumpur from Clark,” he said.

AirAsia Philippines by November this year will be flying to Saigon in Vietnam from Manila.

The airline also launched three flights daily from Manila to Iloilo using the airline’s fleet of Airbus A320s that can accommodate up to 180 passengers.  

The airline operates several flights to/from Manila, Davao, Cebu, Kalibo, Caticlan (Boracay), Tacloban, Tagbilaran (Bohol), Puerto Princesa (Palawan), Clark, and Iloilo in the Philippines with international flights to/from Shanghai, Taipei, Incheon (Seoul), Hong Kong, Macau, Kuala Lumpur, Kota Kinabalu, Guangzhou, Vietnam and Singapore.

Malaysia’s Air Asia, through AA International, owns 40 percent of Philippines’ Air Asia Inc., while Filipinos Marriane Hontiveros, Michael Romero, Antonio Cojuangco and Alfredo Yao hold the balance of 60 percent.

Topics: Airlines , BDO , AirAsia
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