AirAsia Group CEO Tony Fernandes is abandoning plans to take the low-cost carrier group’s Indonesian subsidiary to an IPO. Fernandes said the decision at the company, PT Indonesia AirAsia (AirAsia Indonesia), was based on "the subsidiary’s poor financial performance" and the fact that it would be an uphill battle to take the carrier public "when it is not making money." The company reported an operating loss of IDR390 billion ($323 million) in this ...
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