Down under or Thai? Aussie mum trades Oz for Land of Smiles

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Thai AirAsia to be listed in SET by Q4/2011

BANGKOK, 7 March 2011 (NNT) – Low cost carrier operator Thai AirAsia will list itself in the Stock Exchange of Thailand (SET) in the last quarter this year in a bid to expand its investment as it has already designated three underwriting firms for initial public offering (IPO).

According to Thai AirAsia CEO Tassapon Bijleveld, the company has appointed three underwriting firms, including Credit Suisse Securities Thailand, CIMB Securities Thailand and Thanachart Securities Thailand for IPO.

It is expected that the airline will be listed in the SET within the last quarter of 2011. The listing plan is made in order to cushion future investment plan of the airline and a new fleet of 20 airplanes. About 150 million US dollars is projected from the fund-raising.

As for the operation of the airline in 2010, the total income stood at 12.4 billion baht, an increase of 33% from 2009. Earnings before tax were 2.846 billion baht.

Thai AirAsia’s Revenue Passenger Kilometer (RPK) for 2010 was concluded at 78%, rising by 16% from the previous year with over 58 million passengers last year.

-- NNT 2011-03-07

[siam2007]

Air Asia Indonesia plans the same thing.

All AirAsia's - profits skyrocketed in 2010 after a difficult year 2009

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Thai AirAsia plans IPO to pay for new planes

BANGKOK, March 7, 2011 (AFP) - The Thai offshoot of Malaysian budget carrier AirAsia said Monday it aimed to raise at least $150 million to buy new planes through an initial public offering.

Thai AirAsia plans to sell a stake of at least 25 percent and list on the Thai stock exchange in the fourth quarter of this year.

"Following the strong performance in 2010, we are confident that this is the right time to access the capital markets for further expansion," Chief Executive Tassapon Bijleveld said.

The money will be used partly to pay for the purchase of 20 Airbus 320 planes it has ordered to double its fleet size, he said.

The airline plans to introduce a new route to India this year and another to the Philippines early next year, said Tassapon.

The planned IPO will include new and existing shares, offered to both local and foreign investors.

Thai AirAsia is currently owned 49 percent by Malaysia's AirAsia and 51 percent by its Thai management.

AirAsia said last month that its fourth-quarter net profit rose more than nine-fold from a year earlier due to strong passenger demand and higher yields.

Malaysia-based AirAsia X -- a long-haul affiliate of AirAsia and Virgin Group -- also plans an IPO this year, while AirAsia's Indonesian subsidiary plans a market listing in the fourth quarter of 2011.

-- Dow Jones Newswires contributed to this story --

-- (c) Copyright AFP 2011-03-07