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AirAsia X eyes IPO in second half 2012

Azran said the company will not be cancelling a planned US$200 million Islamic bond issue. — File picAzran said the company will not be cancelling a planned US$200 million Islamic bond issue. — File picKUALA LUMPUR, Feb 9 — Long-haul budget carrier AirAsia X is planning to list in the second half of this year if two other group units list successfully, despite recently cancelling some routes, the Edge Financial daily reported today.

AirAsia X chief executive Azran Osman Rani told the paper the listing of the long-haul unit would depend on the timing and pricing of initial public offerings of AirAsia’s Thai and Indonesian units.

AirAsiaX was founded by aviation tycoon Tan Sri Tony Fernandes who also runs AirAsia Bhd, one of the world’s largest short-haul low-cost carriers, which is operated as a separate entity.

Azran told the paper AirAsiaX will not be cancelling a US$200 million (RM600 million) Islamic bond issue that was slated for March but has been delayed for at least 12 months, as it does not need to fund two new planes this year after the carrier said last month it was scrapping routes to Europe and India.

“We are not cancelling the sukuk issue. We are putting it on hold since we are not getting any deliveries of planes this year, but only in 2013,” Azran told the paper. — Reuters

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