AirAsia X Spin-Off

The AirAsia Group has announced that its long-haul arm, AirAsia X, will be spun off into a standalone, publicly traded company with an initial public offering targeted for the second half of 2011, subject to market conditions.  “It has now reached sufficient scale of economies to stand on its own instead of relying on services provided by AirAsia,” a company spokesperson stated.
AirAsia will also seek separate listings for its Thailand-and Indonesia-based affiliates.  The carrier is completing a MYR100 million ($31 million) rights issue which will enable it to achieve financial independence and fund its continued growth.