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.