AirAsia X to delay IPO to June: reports

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Malaysia's AirAsia X has reportedly delayed its initial public offering to June from the first quarter of 2013.

According to Malaysian media reports, AirAsia chief executive Tony Fernandes says that the long-haul, low-cost carrier is "looking at a June listing" after lodging its prospectus with the regulatory authorities.

In a prospectus lodged in November 2012, the airline indicated that it would seek a listing on the Malaysian stock exchange during the first quarter of the year.

The airline did not provide a reason for the delay or any other details when contacted by Flightglobal Pro.

In its prospectus, AirAsia X had said that it was seeking to raise M$760 million ($244 million) through the sale of 790.1 million shares in the IPO. The funds raised would be used to finance new aircraft acquisitions, repay bank borrowings and increase its working capital.

Flightglobal Pro data show that the airline has nine Airbus A330-300s and two A340-300s. It has orders for 18 additional A330s and 10 A350-900s.

AirAsia X's largest shareholder is Aero Ventures, a consortium led by Fernandes and AirAsia deputy chief executive Kamarudin Meranun, which owns a 48% stake in the company. AirAsia and Virgin Group own 16% each, while Manara Corporation and Orix hold 10% each.