Romero gains majority control of AirAsia Philippines MANILA, Philippines — The family of Rep. Michael “Mikee” Romero has become the sole local owner of AirAsia Philippines after buying out the only other remaining Filipino shareholder in the budget carrier. Romero-owned F&S Holdings has acquired the 15.6 percent stake of Antonio “Tonyboy” Cojuangco in AirAsia Philippines, raising its total stake to 60 percent from the previous 44.4 percent. “We have successfully acquired 15.6 percent of the last remaining shares of the local partners and we have acquired TNR Holdings for my family’s stake in AirAsia to be 60 percent. We bought TNR Holdings which is owned by Tony Boy Cojuangco,” said Romero, without disclosing the value of the transaction. The remaining 40 percent in AirAsia Inc. (AAI), operator of AirAsia Philippines, are still owned by Air Asia Bhd founders Tony Fernandez and Datuk Karmarudin Menarum. Last June, F&S Holdings became the new majority shareholder of the company after it upped its ownership in AAI to 44.4 percent with the acquisition of the 28.7 percent stake owned by former ambassador Alfredo Yao and Maan Hontiveros. “This is business for me and my wife that we can pass on to the next generation…. Read full this story
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