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21 May 2010

AirAsia keeps its plan to get listed on Thai bourse

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Asia’s leading low cost carrier AirAsia Bhd will continue with its plan for a dual listing in Thailand despite the political crisis in that country, said its group chief executive officer (CEO), Datuk Seri Tony Fernandes, reported Malaysia national news agency Bernama.

“A crisis will come and go. But our listing plans are still afoot,” he told reporters at the Sixth World Islamic Economic Forum (WIEF) in Petaling Jaya, Malaysia.

He said the listing would happen once the political environment in Thailand showed recovery.

Fernandes, however, said there was no time frame or schedule for the listing. On its operations in Thailand, he explained that the airline had a good sales period but obviously, sales had fallen in the last two months.

“We will bounce back. The power of recovery in Asia is strong as we have undergone many crises before,” he added.

Earlier during the Global CEO Panel session, Fernandes said there was a need to spend on branding, as it was an important aspect of company performance and achievement.

“It is important to innovate and create a better environment. At AirAsia, we have spent a lot for branding,” Fernandes said. In order to build branding worldwide, AirAsia had maximised its sponsorship programme, he said.

The airline recently sponsored the Formula One Team and also became the official low cost carrier for English Premier League team, Manchester United.


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