“We have a plan [to go public] but probably in the next four years,” Isla told reporters on the sidelines of the Economic Journalists Association of the Philippines-San Miguel Corp. aviation forum on Monday.
He said the domestic business has nearly recovered to the pre-pandemic level, while international was still at about 70 percent. This was partly due to weaker demand from mainland China.
Isla said the company needs to achieve consistent profitability before listing. While losses may continue in 2024, they expect to report positive income in the fourth quarter, driven by the busy Christmas season.
In previous announcements, AirAsia Philippines had considered a Philippine IPO valued at around $200 million.
However, in an interview in September last year, Tony Fernandes, CEO of parent company Capital A, stated that the IPO was on hold pending the completion of the company’s reorganization.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
