FERNANDES: ABORTED BATAVIA AIR DEAL NOT SETBACK, AIRASIA WILL FORGE AHEAD IN INDONESIA
Image : The Star Online
Seoul,S Korea : The PT Batavia Air acquisition deal is off, but AirAsia boss Tan Sri Tony Fernandes does not see it as a setback for his group.
He said AirAsia Bhd would forge ahead and accelerate growth in the world's fourth largest populous country and that AirAsia Indonesia would be listed next year.
“Not at all, it is not a setback. The plans were set but we thought we could accelerate them (with the acquisition). (On hindsight) we think management time, the integration, the potential earnings fallout and the huge cash required to turna round Batavia would have been too dilutive.
“We will carry on with our plans for organic growth and the potential of growth in that market is huge,” he told StarBiz.
Asked if he would look to acquire another airline to grow in scale and size to compete to tap the 260 million population, most of the whom have not travelled by air before, Fernandes said, “No, I don't think so.”
15/10/2012 : The Star Online.
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