AirAsia has decided against selling-off its subsidiary Indonesia AirAsia in an IPO, citing the airline’s recent poor financial performance. AirAsia Group CEO Tony Fernandes said: “Indonesia AirAsia is not making money, so going for an IPO without a good financial record is not the norm. It is also not my style. AirAsia moving forward would also like to own more of these airlines [affiliates]. Just like banking and telecoms, I am sure ASEAN airlines will one day be allowed to be 100%-owned by another ASEAN company.” Fernandes reiterated that AirAsia would take the subsidiary public only when it made financial

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