Sunday, March 6, 2011

AirAsia Indonesia targeting $200m from IPO

The Jakarta Post, Jakarta | Thu, 03/03/2011 12:43 PM | Business

Budget airliner AirAsia Indonesia (AAI) says it is going ahead with plans to carry out an initial public offering (IPO) in the fourth quarter of 2011, targeting to secure between US$150 million and $200 million from the sale of a 20 percent stake in the company.
"Funds raised will be used to procure new airplanes, to boost capital, to finance long-term operational costs and speed up corporate growth," AirAsia Indonesia chief executive officer Dharmadi said Thursday.
The company has nominated two underwriting firms to handle the offering.
"We've appointed two reputable underwriting companies, Credit Suisse and CIMB," he said.

The company has also targeted to increase its revenue by 15 percent this year, thanks to an expected increase in its load factor to 80 percent this year, compared 77 percent last year.

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