At least a dozen airlines considering IPOs, but how many will get off the ground?

There are at least a dozen airlines around the world that have publicly talked about tapping equity markets to help diversify funding sources as they seek to fill significant aircraft orders. But timing is everything and some of the IPO plans covered in this report have been around for several years, just waiting for conditions to ripen. Europe’s sovereign debt woes have however sparked a fresh wave of volatility in global equity markets, spooking investors and would-be sellers. In early May-2010, the Indonesian Government deferred the long-awaited IPO of flag carrier, Garuda Indonesia, while Philippine LCC, Cebu Pacific last month shelved its IPO until some time after national elections. Other deferrals could be forthcoming. [6905 words]

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This report contains the following subheadings:

• 2010 did look like a good time to IPO
• Asia Pacific
• Middle East
• Europe
• Americas
• Outlook: Airline IPOs back in vogue, but time will tell

This report contains the following charts and tables:

• Bloomberg Airlines Index: Oct-2004 to Apr-2010
• Fleet plans for airlines considering IPOs
• Tiger Airways share price: 22-Jan-2010 to 10-May-2010
• Cebu Pacific fleet plans: 2010 to 2014
• Qantas first half segment earnings: 1HFY2008/09 vs 1HFY2009/10
• Spring Airlines fleet plans: 2010-2014
• StarFlyer FY2009 Forecast
• IndiGo fleet plans: 2010-2015
• Pegasus Airlines fleet plans: 2010-2014
• LAN Airlines share price: 04-Jan-2010 to 06-May-2010