Philippines AirAsia 'no rush' on IPO - Fernandes.

The long-awaited initial public offering (IPO) of Philippines AirAsia may not happen this year, Tony Fernandes, CEO of AirAsia Group, told reporters on the sidelines of the group's Asean Day celebrations in Bangkok. He said he was still in wait-and-see mode regarding the Philippine unit's bid to go public and wanted it to increase its value first. "It's there, but with no particular rush to be honest. We want to maximise the valuation, so you know after a very tough start our earnings are very strong, the fuel price is going down, tourism is going up. We also see potential in new airports being developed," he explained at the group's launch of its Sustainable Asean livery, as quoted by the daily newspaper Business Mirror.

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