The airline also withdrew its service to Christchurch, New Zealand on 31 May 2012 after only a year of launching service. At the same time, the airline announced that it would increase services to Perth and Taipei from June 2012. On 22 June 2012, the airline launched service to Beijing, its third Chinese destination and at the same time terminated service to Tianjin. AirAsia X also suspended service to Abu Dhabi many years prior due to unprofitability. On 8 October 2012, AirAsia X announced with seven days notice that it would withdraw service to Tehran citing "challenging economic and business conditions", which drew criticism amidst allegations of poor service and deceptive practices. In July 2013, AirAsia X executed an IPO on the Bursa Malaysia, raising $310 million. The international law firm of Pillsbury Winthrop Shaw Pittman advised on the transaction. The capital was to be used to further expand routes, especially after obtaining Thai authorities' approval for an air operator's certificate to operate flights from Bangkok to South Korea and Japan. In December 2013, Tony Fernandes, director of AirAsia X, said that the airline would resume flights to Europe. On 15 July 2014, CEO Azran Osman-Rani and Airbus President and CEO Fabrice Brégier signed a Memorandum of Understanding (MOU) for 50 A330-900 aircraft at the Farnborough Airshow in the UK. "We have been encouraging Airbus to launch this new version of the A330 for some time now. I am pleased that they are offering this choice and bringing us the aircraft we truly need to develop further our low-cost long haul model. We are 100% sure that the A330neo will be quite unbeatable in its size category and we look forward to enabling more people to fly further more often aboard this great aircraft," said Tan Sri Tony Fernandes, co-founder and Director of AirAsia X. AirAsia X resumed its Delhi service in early 2016 and returned to New Zealand in March 2016 with the Kuala Lumpur-International to Auckland service, via Gold Coast, but flights were suspended again in February 2019. It resumed services to Tehran on 21 June 2016 with the thrice-weekly Kuala Lumpur-International to Tehran-Imam Khomeini service, but flights were suspended again in April 2018. It commenced its new route to Sapporo in October 2015 and launched its new route to Honolulu at the end of June 2017 after delays in route approval in 2015. On 9 October 2017,