AirAsia Berhad : No Merger Between AirAsia And AirAsia X - 09/06/2010

AirAsia X to go for separate listing. AirAsia said yesterday that it is moving towards “having separate public-listed entities (for its businesses) that give investors clear choices to invest based on the business model”. Subject to market conditions, AirAsia X is eyeing a public listing in 2H2011. In FY12/09, AirAsia X reported a net profit of RM87m on RM720m turnover. AirAsia owns a 16% stake in AirAsia X. The other shareholders of AirAsia X are Aero Venture (48%), Virgin Group (16%), Bahrain-based Manara/Japanbased Orix (20%). Aero Venture is controlled by Tony Fernandes, Kamarudin Meranun, Kalimullah Hassan, Lim Kian Onn and Air Canada veteran Robert Milton. AirAsia X in its entirety was valued at RM1.25bn pursuant to the private equity deal with Manara/Orix in 2008.