Jakarta: The Indonesian subsidiary of Asia's biggest budget carrier AirAsia will postpone its initial public offering (IPO) until next year due to the global economic slowdown, its spokes-woman said yesterday.
The airline, in March, announced plans for a public listing in the final quarter of this year, hoping to raise up to US$200 million (RM630 million).
It also named CIMB Securities Indonesia and Credit Suisse Securities Indonesia as its joint-lead underwriters.
"The preparation for IPO is going well, but we decided to postpone it due to inconducive global economic conditions," AirAsia Indonesia's corporate communication manager Audrey Petriny said.
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".
"We want to do the initial public offering at the right time," she said.
AirAsia Indonesia currently ope-rates a fleet of 16 Airbus and aims to add 20 more planes by 2015.
National flag carrier Garuda Indonesia in February made its debut on the Indonesia Stock Exchange, raising around 4.7 trillion rupiah (RM1.65 billion) from selling 28 per cent of its total equity.
Indonesian budget airline Lion Air, which last month signed a US$21 billion (RM66.15 billion) deal for 230 Boeing 737s with the US manufacturer, had also planned to launch an IPO in the first half of 2012.
The initial public offerings reflect rapid change in the nation's avia-tion industry, which has a history of safety problems that led the European Union to ban all Indonesian airlines from its airspace in 2007 after a series of crashes and incidents.
AirAsia opened its regional headquarters in Jakarta in October to exploit Southeast Asia's largest market and extend its reach in the region.
The airline's 2010 full-year net profit reached RM1.07 billion, nearly double that of 2009.
However, its net profit within the third quarter of this year fell 53 per cent to RM152.3 million ringgit due to higher fuel prices and staff costs. - AFP
The airline, in March, announced plans for a public listing in the final quarter of this year, hoping to raise up to US$200 million (RM630 million).
It also named CIMB Securities Indonesia and Credit Suisse Securities Indonesia as its joint-lead underwriters.
"The preparation for IPO is going well, but we decided to postpone it due to inconducive global economic conditions," AirAsia Indonesia's corporate communication manager Audrey Petriny said.
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".
"We want to do the initial public offering at the right time," she said.
AirAsia Indonesia currently ope-rates a fleet of 16 Airbus and aims to add 20 more planes by 2015.
National flag carrier Garuda Indonesia in February made its debut on the Indonesia Stock Exchange, raising around 4.7 trillion rupiah (RM1.65 billion) from selling 28 per cent of its total equity.
Indonesian budget airline Lion Air, which last month signed a US$21 billion (RM66.15 billion) deal for 230 Boeing 737s with the US manufacturer, had also planned to launch an IPO in the first half of 2012.
The initial public offerings reflect rapid change in the nation's avia-tion industry, which has a history of safety problems that led the European Union to ban all Indonesian airlines from its airspace in 2007 after a series of crashes and incidents.
AirAsia opened its regional headquarters in Jakarta in October to exploit Southeast Asia's largest market and extend its reach in the region.
The airline's 2010 full-year net profit reached RM1.07 billion, nearly double that of 2009.
However, its net profit within the third quarter of this year fell 53 per cent to RM152.3 million ringgit due to higher fuel prices and staff costs. - AFP
