Business

Published: Friday September 21, 2012 MYT 3:53:00 PM

AirAsia CEO says listing of long-haul budget carrier imminent


SINGAPORE: AirAsia Bhd CEO Tan Sri Tony Fernandes said the public listing of his long-haul budget carrier, AirAsiaX, was progressing and appeared imminent, but he provided no exact date in a speech to the Foreign Correspondents Club of Singapore on Friday.

The CEO also said he would present a plan to his board of directors within two weeks for the purchase of about 100 Airbus aircraft and was trying to interest Asian banks in expanding their share of the aviation financing market, which he said could help lower costs for airlines.

Fernandes, who owns Formula One team Caterham, said in a Tweet on Friday that he was in Singapore to meet bankers to discuss reducing costs.

"Cost, cost, cost. That's my focus over the next few months."

Aviation has generally been financed by European banks, Fernandes said.

"We're trying to get Asian banks interested. I think by introducing Asian bankers to the aviation market, costs will be reduced. Asian banks also have a lot more money than European banks," he said. - Reuters

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