AirAsia Sees Potential IPO For India Unit

KUALA LUMPUR, Jan 10 (Bernama) -- Malaysian low-cost carrier AirAsia Bhd is looking at a potential initial public offering (IPO) for its India unit, said Group Chief Executive Officer, Dr Tony Fernandes. In his official Twitter account on Wednesday, the aviation tycoon said the group would be seeking approval at the next AirAsia India board meeting to pick a banker to start a preliminary process for the IPO. "Analysts (are) giving zero value to AirAsia India. Not far from 20 planes and a potential IPO," he tweeted. On a separate note, Fernandes said Airasia was also in the process of appointing a banker to find a partner for the group's wholly-owned unit, AirAsia Global Shared Services Sdn Bhd (AGSS). AGSS provides shared business, support and outsourcing services, develop or use multimedia technologies in producing or enhancing products and services, and for process development and provision of training. -- BERNAMA