Southeast Asia Budget Carriers Seen Raising $750 Million
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Southeast Asian budget airlines may raise a combined $750 million from initial public offerings this year, Malayan Banking Bhd.’s investment bank said, as no-frills companies take on full-service carriers with cheap fares.
Nok Airlines Co., backed by Thai Airways International Pcl, Bangkok Airways Co., and two units of AirAsia Bhd., are among companies preparing for IPOs, said Tengku Zafrul Tengku Abdul Aziz, chief executive officer of Maybank Kim Eng, in an e-mail. His estimate would mark the biggest year for such deals since 2010, according to data compiled by Bloomberg.