Consolidated AirAsia Philippines and AirAsia Zest, Philippines (AirAsia) will push through with its $200-million initial public offering (IPO), but only by the first quarter of 2018, its top official said Tuesday.
“The IPO will definitely happen, but honestly, we have to defer it to first quarter of 2018.” AirAsia Philippines CEO Joy Caneba said in a press briefing.
The budget airline initially targeted to list in the Philippine Stock Exchange (PSE) by 2016.
“We saw some setbacks this year, because we had to re-fleet.” Caneba explained.
Canebo said ever since the consolidation, AirAsia had been tweaking AirAsia Zest aircrafts to match the AirAsia standards.
“Right now we are re-fleeting all the AirAsia Zest-acquired aircrafts,” Caneba said. “We are trying to change it to AirAsia-consistent type of aircraft.”
Caneba said AirAsia wants to be branded as a budget airline with a premium feel in terms of service.
“low fares but premium feel,” she said.
Caneba added that AirAsia’s quality customer service is what sets the airline apart from other budget carriers.
According to her, AirAsia is operating 12 to 13 aircrafts and plans to add more next year.
“We will be adding five more next year.” Caneba said.
AirAsia will also be expanding in terms of flight to China according to her.
“We will go big on China and South Korea by next year,” the lady CEO said.
She mentioned flights to Guangzhou and Fuzhou, among other destinations in China.
Meanwhile, Caneba said AirAsia expects a $4-million income this year, and some $6 million next year.
“For this year, we will end it with $4M. For next year, we can further increase it by $2 million,” she said.