Tony Fernandes, Chief Executive of Airasia, said the Malaysian group plans to conduct an initial public offering (IPO) for its Indonesia AirAsia unit on the Indonesia Stock Exchange (IDX) before the end of 2017. By selling a stake of between 25-30% to the public, the low-cost airline aims to generate funds required for further business expansion (specifically for the purchase of new airplanes and opening of new flight routes). The AirAsia Group is currently also awaiting approval from Indonesia’s Financial Service Authority (OJK) with regard to the IPO plan.
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