flee 5 Report post Posted March 7, 2011 KUALA LUMPUR, March 7 (Bernama) -- Thai AirAsia Company Ltd aims to raise at least US$150 million (US$1 = RM3.03) from its initial public offering (IPO) to further strengthen its capital structure to support future operations, including the acquisition of additional aircraft. "We are looking at raising at least US$150 million from the offering. Following the strong performance in 2010, we are confident that this is the right time to access the capital markets for further expansion," its chief executive officer, Tassapon Bijleveld said in a statement here today. The shares are expected to be listed and quoted on the Stock Exchange of Thailand before the end of this year. Thai AirAsia has appointed Credit Suisse Securities (Thailand) Ltd, CIMB Securities (Thailand) Ltd and Thanachart Securities Public Co.,Ltd as their joint lead underwriters for the exercise. The airline recorded a total revenue of Thai Baht (THB) 12.4 billion (THB100 = RM9.77) in 2010, an increase by 33 per cent compared to the previous year and a strong increase in profit after tax of THB2.846 billion. Load factor was at 78 per cent with passenger volume growth of 16 per cent over 2009. The airline carried a total of 5.8 million passengers last year, making it the largest low cost carrier in the country. Ancillary income also contributed significantly to the airline's bottom line. "We will take more deliveries of brand-new A320 aircraft this year to add to our current fleet strength of 20 aircraft. We aim to grow to at least 40 aircraft in the medium term," Tassapon said. Flightglobal's Report below: Thai AirAsia plans to raise at least $150 million from an initial public offering in Bangkok before the end of the year. "Following the strong performance in 2010, we are confident that this is the right time to access the capital markets for further expansion." says Tassapon Bijleveld, CEO of the low cost carrier that is 49% owned by Malaysia's AirAsia. Around 25% of its shares will be listed on the Stock Exchange of Thailand, says the airline. Apart from AirAsia, Thai firm Asia Aviation owns 50% of the carrier while Tassapon owns 1%. It did not say how their stakes will be diluted. Credit Suisse Securities (Thailand), CIMB Securities (Thailand) and Thanachart Securities have been appointed as underwriters, it adds. "The proceeds of this IPO will be used to further strengthen the company's capital structure to a level appropriate to support our future operations, including the acquisition of additional aircraft," adds Tassapon. The airline has a fleet of 20 Airbus A320s, but that will grow to at least 40 "in the medium term", it says. The IPO, it adds, will "accelerate our growth". "We will be able to reap the benefits of our investment in our Indian sectors which we started flying in 2010, where we have seen a strong demand and great potential for growth. Also the Thai economy is expected to remain buoyant throughout 2011. There is further room for the market to expand as there is strong demand for travel in the Asia-Pacific region," says Tassapon Tassapon says that the airline aims to strengthen both domestic and international travel from its three hubs - Bangkok, Phuket and Chiang Mai. This year, the carrier plans to add one more route to India and add more frequency to its Bangkok-Singapore flights. Thai AirAsia's revenues grew 33% to 12.4 billion baht ($407 million) in 2010, and it posted a profit after tax of 2.85 billion baht. The airline carried 5.8 million passengers in 2010, and that is expected to go up to 7 million this year. It had a load factor of 78% last year, says Thai AirAsia. Share this post Link to post Share on other sites
Mohd Azizul Ramli 2 Report post Posted March 8, 2011 From Dow Jones. By Agence France-Presse, Updated: 3/7/2011 Thai AirAsia plans IPO to pay for new planes http://news.malaysia.msn.com/regional/article.aspx?cp-documentid=4694433 The Thai offshoot of Malaysian budget carrier AirAsia said Monday it aimed to raise at least $150 million to buy new planes through an initial public offering. Thai AirAsia plans to sell a stake of at least 25 percent and list on the Thai stock exchange in the fourth quarter of this year. "Following the strong performance in 2010, we are confident that this is the right time to access the capital markets for further expansion," Chief Executive Tassapon Bijleveld said. The money will be used partly to pay for the purchase of 20 Airbus 320 planes it has ordered to double its fleet size, he said. The airline plans to introduce a new route to India this year and another to the Philippines early next year, said Tassapon. The planned IPO will include new and existing shares, offered to both local and foreign investors. Thai AirAsia is currently owned 49 percent by Malaysia's AirAsia and 51 percent by its Thai management. AirAsia said last month that its fourth-quarter net profit rose more than nine-fold from a year earlier due to strong passenger demand and higher yields. Malaysia-based AirAsia X -- a long-haul affiliate of AirAsia and Virgin Group -- also plans an IPO this year, while AirAsia's Indonesian subsidiary plans a market listing in the fourth quarter of 2011. -- Dow Jones Newswires contributed to this story -- Great news! Now both QZ and FD had officially made their listing plans on track. Waiting for D7's announcement. Share this post Link to post Share on other sites
KK Lee 5 Report post Posted March 9, 2011 Given the glass wall and ceiling imposed on AK in Malaysia, it is AK strategic interest to have multiple home bases. Share this post Link to post Share on other sites
alberttky 0 Report post Posted September 21, 2011 PETALING JAYA: AirAsia Bhd's share price fell to the lowest in nearly three months after news leaked that unit Thai AirAsia may be postponing the proposed initial public offering (IPO) in order to restructure and conduct due diligence before listing in the fourth quarter. However, AirAsia said the IPO remained on schedule. The company's share price fell 16 sen to RM3.19 yesterday amid speculation that the airline, which was targeting to raise US$200mil from the IPO to use as cash reserves and to repay debt, needed more time to restructure and conduct due diligence before listing in Bangkok. Reuters, quoting CIMB Securities (Thailand) corporate finance head Sithichai Mahakun, said Thai AirAsia had delayed the share sale plan to the first quarter of next year. CIMB Securities (Thailand) is the financial adviser of the airline. AirAsia investor relations manager Benyamin Ismail said in an e-mailed statement yesterday that the proposed IPO had not been delayed. He added that the news was incorrect and that the IPO was scheduled for the fourth quarter. AirAsia's share price has been under pressure since early August partly due to market volatility stemming from investors cutting their exposure to equities as well as a perception among foreign investors that the airline's chief executive officer and major shareholder Tan Sri Tony Fernandes was selling out after a share-swap deal with Malaysia Airlines (MAS) last month. Analysts covering the stock said the sell-down on the airline's shares was also in line with the sell-down on stocks with high foreign shareholdings such as CIMB, IJM, and Petronas Chemicals. They speculated that the news report on the delayed IPO would have also quickened the sell-down on AirAsia shares. An analyst cast doubt on the proposed IPO's scheduled listing. “Do you think there's appetite for an IPO in this kind of market condition?” he asked. Another analyst said a delay in Thai AirAsia's IPO should not have an impact on the parent company's outlook. Meanwhile, CIMB Research analyst Raymond Yap said in a report that the turnaround of MAS' prospects remained questionable despite a profitable cargo segment as the passenger segment was expected to continue suffering huge losses. “We maintain our earnings forecast, target price of RM1.60 and underperform call. Potential de-rating catalysts include wider-than-expected losses in the second-half of 2011,” he said. Yap said MAS was too bullish in its view that its air freight unit MASkargo would be able to increase revenue by 25% or RM200mil in the next financial year ending Dec 30 despite the renewal of the airline's cargo fleet with the purchase of four A330-200F. “Global freight demand has been heading south since the middle of 2010 as global growth has slowed, especially in the developed countries, and a portion of air cargo has moved back to containerships due to excess capacity in sea freight,” he said. http://biz.thestar.com.my/news/story.asp?file=/2011/9/21/business/9538807&sec=business Share this post Link to post Share on other sites
flee 5 Report post Posted February 14, 2012 (edited) Thai AirAsia aims to accelerate expansion following late March IPO Thai AirAsia aims to complete an initial public offering (IPO) by the end of next month that should raise capital to help fund the next phase of its expansion programme. The Bangkok-based low-cost carrier is an affiliate of the AirAsia Group and expects to expand its fleet of Airbus A320s to 40 aircraft within five years, at which point it may look at adding widebody aircraft. Thai AirAsia CEO Tassapon Bijleveld told CAPA at last week’s Low Cost Airlines World Asia Pacific conference in Singapore that the company is “about to file” with the Stock Exchange of Thailand its long-planned IPO. He says the filing, which would be submitted “very soon”, will lead to a 45-day quiet period which would culminate in the sale of shares. Mr Tassapon expects the IPO will be completed by the end of 1Q2012, which would require a filing in mid-February. Mr Tassapon declined to reveal how much Thai AirAsia will seek to raise from the IPO or how big a stake would be sold. But he said the proceeds will be primarily used to fund an acceleration of the carrier’s fleet. Thai AirAsia IPO to help relieve burden on AirAsia Malaysia Thai AirAsia currently operates a fleet of 23 A320s and until now has had to rely on the Malaysia-based AirAsia Group to finance its new aircraft. Mr Tassapon says the IPO at Thai AirAsia and subsequent IPOs at other AirAsia affiliate carriers will “help release the burden” on the AirAsia Group and allow all the carriers in the portfolio to pursue faster expansion. Malaysia’s AirAsia now owns 49% of Thai AirAsia while 50% is owned by Thailand’s Asia Aviation, which purchased its stake in 2007 from original local shareholder Shin Corp, controlled by the family of former Prime Minister Thaksin Shinawatra. AirAsia Group CEO Tony Fernandes confirmed in a 12-Feb-2012 interview with Bloomberg that Thai AirAsia will file this week an application for a stock exchange listing. Mr Fernandes also said Indonesia AirAsia, which has been preparing to file for a listing on the Indonesia Stock Exchange, aims to complete its IPO by the end of 2Q2012. Mr Fernandes added a listing in Malaysia by low-cost long-haul carrier AirAsia X was planned for later this year. Mr Fernandes has been talking for some time about having separate listings for all existing AirAsia carriers. The main benefit of the separate listings will be to relieve burden on Bursa Malaysia-listed AirAsia as the group rapidly expands its portfolio of carriers. Two more AirAsia affiliates are expected to launch services this year, AirAsia Philippines and AirAsia Japan. Philippines AirAsia finally received its Air Operator’s Certificate (AOC) earlier this month and is now planning to launch services in March or April, five to six months later than initially scheduled due to regulatory delays. AirAsia Japan, which is a joint venture with All Nippon Airways, also received its AOC earlier this month and now plans to launch services in August. It is likely the new Philippine and Japanese affiliates will also eventually pursue IPOs but in the meantime they will have to rely on the Malaysian company to help fund their expansion. With Thai AirAsia and soon after Indonesia AirAsia having their own listings, Malaysia-based AirAsia will be able to focus on expanding in the Philippines and Japan without having to worry about their older affiliates in Thailand and Indonesia draining capital. More here: http://www.centrefor...march-ipo-68000 Edited February 14, 2012 by flee Share this post Link to post Share on other sites
flee 5 Report post Posted May 25, 2012 Asia Aviation To Sell Thai AirAsia Shares To Raise US$142 Million In IPO KUALA LUMPUR, May 23 (Bernama) -- Asia Aviation PCL, the major shareholder of budget carrier Thai AirAsia, said on Wednesday it is selling 1.21 billion shares in the airline to raise up to 4.48 billion Thai baht (US$142.75 million) in an initial public offering in a move to increase its stakes and expand the airline, China's Xinhua news agency reported. Asia Aviation said in a statement that it is offering the stocks at 3.7 Thai baht (US$0.11) per share to investors during May 23-25 on the Stock Exchange of Thailand. "This is another crucial step that will stabilise Thai AirAsia' s financial status and allow the company to march forward to its planned goal," Tassapon Bijleveld, CEO of Asia Aviation said. "We aim to grow at least 20-25 per cent from 2011, which will be supported by our new fleet, new route plans and increase flight frequency on potential routes,"he added. The 1.21 billion shares represent 25 per cent stakes in Thai AirAsia. Share this post Link to post Share on other sites
KK Lee 5 Report post Posted May 25, 2012 Asia Aviation To Sell Thai AirAsia Shares To Raise US$142 Million In IPO Hope and believe QZ IPO will perform better than Facebook :angry: Share this post Link to post Share on other sites
flee 5 Report post Posted May 28, 2012 Thai unit's listing allows AirAsia to focus on other associates: OSK PETALING JAYA (May 28, 2012): OSK Research Sdn Bhd views the listing of AirAsia Bhd's Thai unit via holding company Asia Aviation Pcl as positive as it will recapitalise Thai AirAsia and allow AirAsia to de-gear when the former can raise its own aircraft financing. OSK aviation analyst Ahmad Maghfur Usman said this will allow AirAsia to focus on its growth plans for its other associates. Thai AirAsia is 51% owned by Asia Aviation and 49% by AirAsia. Ahmad also sees trading opportunity in AirAsia on Thai AirAsia's listing on the Stock Exchange of Thailand on May 31, given the valuation gap arising from the initial price offering (IPO) shares' forward price-to-earnings (P/E) multiple of 14.1 times 2012 earnings versus AirAsia's nine times. "AirAsia is currently trading at an attractive nine times 2012 P/E versus its peers' 11-13 times. We remain bullish on the group's outlook as we do not see any yield pressure from Malaysia Airlines and Firefly. Furthermore, in view of the uncertain macro outlook in the immediate term, AirAsia stands to benefit from downtrading by travellers as well as the weaker oil price," he said in a report on Friday. "It is understood that Thai AirAsia is allocating about 1.5 billion baht (RM150 million) for aircraft acquisitions in the immediate term. The remaining 2.8 billion (RM277.5 million) will be used for working capital and to pay off liabilities owed to AirAsia, which as at Q1FY12 stood at 45 million baht (RM4.5 million)," said Ahmad. He sees the progressive transfer of aircraft currently leased by Thai AirAsia from AirAsia, which bodes well for AirAsia as this will help it free up some debt which it raised to buy Thai AirAsia's fleet. "With AirAsia's outstanding debt totalling RM7.5 billion as of Q1 and noting that 27% (24 aircraft) of AirAsia's fleet is currently leased by Thai AirAsia, this could potentially free up as much as RM2.02 billion of AirAsia's debt should the group directly transfer them to Thai AirAsia," he added. This will consequently reduce AirAsia's net gearing to 79% from 126%, cut interest expenses by RM90-100 million from RM380-400 million per year and about RM154 million in depreciation charges. "We could see this de-gearing occurring progressively but the drawback is AirAsia would lose out in earning lease income as it operates like a typical franchise model. Note that AirAsia also earns income from branding rights and so on from its associates and sister companies," said Ahmad. OSK forecast that Thai AirAsia could potentially rake in earnings of 2.3 billion and 2.4 billion baht over the next two years on the back of 19 billion and 22 billion baht in revenue on continued traffic growth for the low-cost carrier. "Based on the subscription price of 3.70 baht apiece, Thai AirAsia's valuation is at a premium, pegged at 14 times and 13.6 times respectively for FY12 and FY13. "However, given that it will be on a strong growth path over the next few years, we think the price of 3.70 baht apiece is fair in line with its peers average range of 11-13 times. This is at a premium to AirAsia, which is currently valued at 10 times FY12 earnings, excluding its Thai and Indonesia associates," said Ahmad. OSK is maintaining its earnings estimate and "buy" call on AirAsia, with a fair value of RM4.57. Source: http://www.thesundaily.my/news/389926 Share this post Link to post Share on other sites
flee 5 Report post Posted April 14, 2014 Thai AirAsia plans rapid domestic and international growth in 2014 despite challenging conditions Thai AirAsia is planning more rapid expansion in 2014 despite the challenging market conditions in Thailand. The carrier aims to grow passenger traffic by 27% in 2014 to 13.3 million as eight A320s are added to its fleet for a total of 43 aircraft. Thai AirAsia plans to continue growing in both the domestic and international markets with a combination of new routes and additional frequencies. The domestic expansion comes amid increasing competition while the international market expansion comes despite sagging demand due to the civil unrest in Bangkok. Among all the existing AirAsia short-haul affiliates, Thai AirAsia is pursuing the fastest growth in 2014 and is alone in opting against slowing down fleet expansion. The decision to continue with rapid expansion is strategic as AirAsia seeks to maintain its leading position in Thailand’s low-cost sector as competition increases. Full analysis here: http://centreforaviation.com/analysis/thai-airasia-plans-rapid-domestic-and-international-growth-in-2014-despite-challenging-conditions-162623 Share this post Link to post Share on other sites
flee 5 Report post Posted May 19, 2014 Nok Air and Thai AirAsia profits fall in 1Q but continue rapid growth in response to new competition http://centreforaviation.com/analysis/nok-air-and-thai-airasia-profits-fall-in-1q-but-continue-rapid-growth-in-response-to-new-competition-168616 Share this post Link to post Share on other sites
flee 5 Report post Posted February 21, 2016 Thai AirAsia, Thai Airways To Discuss Stake-Buying Proposal BANGKOK, Feb 20 (Bernama) -- Thai AirAsia and Thai Airways International (THAI) bosses will meet each other to discuss the possibility of the Thai national flag carrier taking a 20 per cent stake in the low-cost airline. Thai AirAsia boss Tassapon Bijleveld said he was scheduled to meet his THAI's counterpart, Charamporn Jotikasthira next week to discuss the idea which was mooted by Deputy Prime Minister Somkid Jatusripitak. "I plan to discuss the idea with Charamporn before I can tell you more details," he was quoted by Bangkok Post as saying Saturday. On Friday, Tassapon, who is chief executive officer of Asia Aviation Plc (AAV), which owned Thai AirAsia, confirmed that Somkid broached the idea during a meeting with officials from the tourism authority, THAI and its low-cost subsidiary, Thai Smile Airways, and Thai AirAsia. The deputy prime minister asserted that THAI's strategic stake in Thai AirAsia would bring synergies to the two rivals and enable them to expand their routes to cities in Cambodia, Laos and Myanmar. The synergies will also turn Thailand into a regional tourism hub, he added. Somkid reportedly instructed Charamporn to complete a feasibility study on the stake-buying proposal within two months, which if implemented will pave the way for Finance Ministry's Vayupak Fund to finance the deal. Share this post Link to post Share on other sites
jani 0 Report post Posted February 21, 2016 haha.. Sounds like a familiar story Share this post Link to post Share on other sites
Izanee 0 Report post Posted February 21, 2016 Here we go again...money making racket! Share this post Link to post Share on other sites
flee 5 Report post Posted February 22, 2016 Sheesh, the Thai Deputy PM .... Please put more urgency into fixing the Civil Aviation Authority of Thailand rather than meddle with the airliines-lah! Share this post Link to post Share on other sites
Pieter C. 5 Report post Posted February 22, 2016 Sheesh, the Thai Deputy PM .... Please put more urgency into fixing the Civil Aviation Authority of Thailand rather than meddle with the airliines-lah! Indeed, and fix Suvarnabumi's major problems, like closed taxitracks (due to cracks and bad repairs) and Terminal expansion (it's operating at it's limits nowadays). Even IATA is complaining and warning nowadays ! Share this post Link to post Share on other sites
Kee Hooi Yen 0 Report post Posted February 22, 2016 Will we see TG's livery change from purple colour to blue like its neighbour ? Share this post Link to post Share on other sites
