Malaysia's AirAsia Group CEO Tweets That AirAsia Is Looking at Potential IPO for AirAsia India

KUALA LUMPUR, Malaysia--Malaysia's AirAsia Bhd. (5099.KU) is looking at a potential listing of its Indian associate AirAsia India, Tony Fernandes, co-founder and group chief executive officer of the budget airline group tweeted on Wednesday.

"AirAsia will be seeking approval at the next AirAsia India board [meeting] to pick a banker to start preliminary process," Mr. Fernandes tweeted, adding that AirAsia India is a "very valuable asset with huge growth potential".

Based in Bangalore, AirAsia India is a joint venture between AirAsia and Indian conglomerate Tata Sons. It began operations in 2014 and now has 14 aircraft.

-Write to Yantoultra Ngui at yantoultra.ngui@wsj.com

(END) Dow Jones Newswires

January 09, 2018 22:49 ET (03:49 GMT)