AIRASIA GROUP CEO: TIMING FOR BATAVIA AIR ‘NOT APPROPRIATE’
Kuala Lampur,Malaysia : AirAsia Bhd is pushing ahead with its Indonesian IPO plans after it decided to relook at the tie-up with PT FersindoNusaperkasa over the PT Metro Batavia transaction.
“Our aggressive focus in Indonesia remains and we will push our Indonesian IPO plans while still maintaining close co-operation with Batavia Air,” said AirAsia group CEO Tan Sri Tony Fernandes on Monday.
“The company's decision was based on a thorough evaluation by many parties into Batavia Air. In our minds, the timing was perhaps not appropriate as it would have induced too many risks and would ultimately be earnings dilutive to our shareholders."
To recap, on July 26, AirAsia and partner PT Fersindo Nusaperkasa had entered into an agreement to acquire PT Metro Batavia which operates the Indonesian airline, Batavia Air and Aero Flyer Institute, an aviation training school.
15/10/2012 : The Star Online.
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