BANGKOK, Thailand—Low-cost carrier AirAsia Inc. is looking at reviving its operations in Clark International Airport in two years, right after getting fresh capital from its planned initial public offering (IPO).
Philippines AirAsia CEO Dexter M. Comendador said his airline, whose initial operations were birthed from Clark, is studying the prospect of reopening its services to and from the airport in the north to support the government’s move to decongest the main gateway in Manila.
“We hope to go back to Clark, maybe in two years. We have not abandoned our headquarters there,” he said in an interview here.
But already, the company will open a flight or two “later this year” out of Clark, pending the delivery of a new aircraft. This is to help the government free up space at the Ninoy Aquino International Airport (Naia).
“Hopefully, we can expand some more after our IPO in 2018 or 2019,” Comendador said.
The company aims to raise as much as $200 million through its stock-exchange debut. It plans to have a public float of about 30 percent.
“We are on track with our IPO plan. We’re doing a lot better than the previous year,” he said.
Philippines AirAsia was able to narrow down its losses by 31 percent to P539.05 million, thanks to its cost-reduction program.
The carrier also posted an 11-percent increase in revenues to P2.57 billion, with passenger load factor during the said quarter at 91 percent, an 11-point increase annually.