Malaysia's AirAsia is planning to unify its Southeast Asian businesses while growth appears to be on the horizon, but regulatory hurdles remain.

The budget airline is looking to park its business in Malaysia under one umbrella, according to a report from Malaysian bank CIMB. Currently, AirAsia has units in Malaysia, Indonesia, the Philippines and Thailand, as well as other non-Southeast Asian countries.

The ultimate goal is to go public with the new holding company.

AirAsia CEO Tony Fernandes announced these consolidation plans at a time when the company's metrics appear strong.

"We're in a fantastic position," he told CNBC. "Growth factors are very high at the moment ... Business is good and we're going to take 29 planes this year, which is a record number of planes for us."

And with over 400 planes on its order book, analysts are saying that AirAsia seems positioned for growth.

"We now have Indonesia and the Philippines kicking some great doors for us, and India is doing surprisingly much better than we anticipated — so early," Fernandes said. He said he expects AirAsia India to become profitable in the next six months.