Philippines AirAsia Eyes IPO to Fund Growth and Fleet Expansion
Philippines AirAsia is once again moving toward an initial public offering (IPO), according to Capital A CEO Tony Fernandes. Capital A owns 100% of the low-cost carrier, which operates out of Manila Ninoy Aquino International Airport. Despite previously shelving IPO plans as recently as September 2024, Fernandes now confirms that a listing on the Philippine Stock Exchange is back under consideration.
Fernandes said the company may sell 20-30% of its stake once the aviation sector stabilizes. The IPO would support Philippines AirAsia’s expansion, leveraging growing demand in the Filipino aviation market. He also highlighted plans to modernize the airline’s fleet, noting, “We have taken 14 planes this year. Some of those planes will be coming to Manila.”
Philippines AirAsia currently serves 21 airports in eight countries using a fleet of 25 Airbus A320-200s. However, only 15 of these aircraft are active, according to ch-aviation data. IPO discussions have emerged periodically since 2015, but Fernandes now sees better conditions for a successful listing.
He attributed his renewed confidence to ongoing airport infrastructure improvements in the Philippines. “Finally the airports are being sorted out,” he said, adding that Manila could evolve into a key AirAsia hub alongside Kuala Lumpur and Bangkok. The city could also become a launch point for routes to the US East and West Coasts.
Fernandes also revealed that Capital A is considering alternative options, including a backdoor listing, to facilitate the IPO. The move reflects the airline’s long-term ambitions in the ASEAN region and beyond.
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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com