30 May '11, 5am

AirAsia X IPO gets a boost: Petaling Jaya (The Star/ANN) - Singapore Airlines' (SIA) plans to start a long-haul

Petaling Jaya (The Star/ANN) - Singapore Airlines' (SIA) plans to start a long-haul budget carrier have added credibility to AirAsia X's business model and augurs well for the latter's proposed initial public offering (IPO) exercise. "SIA would have studied this plan extensively before deciding to embark on it. The plans will definitely help us with our IPO and will give us credibility - there is a market for running a long-haul low-cost airline," AirAsia X Sdn Bhd chief executive officer Azran Osman-Rani told The Star's StarBiz. AirAsia X is most likely to appoint its IPO advisers next month to raise between 900mil ringgit (US$297mil) and 1bil ringgit. "What is important now is that we do not lose our four-year lead as an airline we cannot lose our first-mover advantage. Now is not the time to scuttle and not grow; key issues that need to be addressed include route approv...

Full article: http://sg.news.yahoo.com/airasia-x-ipo-gets-boost-0500024...

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