AirAsia X plans IPO to fund Airbus A330s

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Malaysia’s long-haul new carrier AirAsia X plans to raise MYR1bn ($294m) to fund the purchase of new aircraft.

AirAsia X signed a contract confirming the purchase of 15 A330-300 aircraft from Airbus earlier this year and has options to purchase 10 additional aircraft. The first new A330-300 will be delivered in the third quarter of 2008.
“The floating of the IPO (initial public offering) we are looking at three years down the road,” AirAsia X chief executive officer Azran Osman-Rani comments. “We plan to raise at least 1bn ringgit on the local bourse. In the third year we would have at least seven aircraft - five A330s which will fly to China, Australia and India and two A340s for the European destinations.”

AirAsia X founder Tony Fernandes says that for its long-haul routes the carrier is eyeing the purchase of another 20 aircraft - either Boeing 787s or Airbus A350s.