Philippines AirAsia to launch IPO between 2020 and 2021

[MANILA] The Philippine unit of AirAsia Bhd is delaying its initial public offering (IPO) to next year or 2021 as it focuses on corporate reorganisation, its chairman said on Wednesday.

The low-cost airline had been seeking to go public and raise around US$200 million since 2015, but has shelved its plan several times because of weak markets and volatile oil prices.

"According to our estimated timeline, we are looking at the third quarter next year to first quarter of 2021," Philippines AirAsia chairman Joseph Omar Castillo told reporters.

REUTERS