AIRASIA TO SELECT BANKS FOR LISTING

AirAsia is planning to list Thai Asia, which it owns 49% of, by the third quarter of 2011 to raise capital and expand its fleet size. Malaysia’s AirAsia is planning to select investment banks by the end of this month for the listing, according to the Malaysian Reserve. “Once Thai AirAsia is listed, the balance sheet will be strong enough to finance purchases of planes on its own,” Thai AirAsia Chief Executive Tassapon Bijleveld told the newspaper. Thai AirAsia plans to more than double its fleet to 40 aircraft in the next five years.