Romero-owned F&S Holdings acquired 28.7 percent shares of AirAsia Inc. (AAI), raising its total stake to 44.4 percent from the previous 15.7 percent. As the new majority shareholder in AAI, Romero said his group has big plans in store for the popular budget carrier, including its long planned initial public offering (IPO). Romero said the company is looking to raise about $200 million from the IPO which could happen by November or December. We plan to make our revenues from P30 billion this year to about P50 billion in tree years’ time,” Romero said. In the Philippines, AirAsia has a current fleet of 23 from only two aircraft in 2012 when the airline began its commercial operation in Clark, Pampanga.

Source: Philippine Star June 03, 2019 16:00 UTC