By: AirTravellerPH Staff
F&S Holdings has taken majority control of Philippines AirAsia (PAA) after acquiring 15.7% stake from Antonio Cojuangco's TNR Holdings. F&S Holdings belong to the family of Rep. Mikee Romero. According to F&S Holdings chair Shiela Romero, the terms and value of the purchase is confidential. AirAsia Group hold the rest of the remaining shares. Prior to the acquisition, the Romeros already held 44.4% stake in the airline.
PAA's Chairman Joseph Omar Castillo told reporters that due to the restructing of the company under its new owners, the Initial Public Offering of the company will be postponed to 2020 or 2021.The IPO has been postponed a number of times since it was first publicized in 2015.
On the other hand, the Malaysian unit of AirAsia Group began lowering passenger service charges at the Kuala Lumpur International Airport (KUL) following the decision of the Malaysian Minister for Transportation Anthony Loke Siew Fook. According to a report by Ch-Aviation, the lower passenger charges apply to passengers travelling outside the ASEAN region.