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AirAsia X raises €235 million in IPO

Discussion in 'Latest Airline News' started by Lee Ferrara, Jun 23, 2013.

  1. Lee Ferrara

    Lee Ferrara Administrator Staff Member

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    AirAsia co-founder Conor McCarthy has said the Malaysian company’s long-haul budget carrier AirAsia X, which raised nearly 988 million ringgit (€235 million) in an initial public offering yesterday, will use the proceeds to pay down debt and expand its fleet.

    Mr McCarthy, who is the executive chairman of Dublin Aerospace, said the IPO was five times oversubscribed, adding he was “very happy” with the flotation due to expectations that weak market sentiment may dampen the valuation.

    “The stock market was very choppy for the last few weeks and you never know what’s going to happen when you’re doing an IPO. The IPO gives us good capital and we have a fairly healthy aircraft order.”

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