AirAsia chief Tony Fernandes has outlined plans for the Southeast Asian market, looking to raise up to US$600 million from initial public offerings for the brandâ€™s Indonesian and Philippines franchises, according to Wall Street Journal.
Fernandes is hoping for valuations of US$1 billion for each associate airline and plans to sell stakes of 20% and 30%, potentially raising US$200million to US$300 million from each offering. Plans were also highlighted to enter the Japanese market again in 2016 with new partners, following the failure of a partnership with All Nippon Airways, added the article.
This is part of the airlineâ€™s vision to boost its presence in Indonesia. Fernandes has reportedly been in talks with Indonesian President Joko Widodo. The latter has been eager to push up Indonesiaâ€™s tourism numbers.