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Garuda Indonesia wants to fly free - again JAKARTA - Garuda Indonesia has again presented plans to raise between 300 and 400 million dollar in an initial public offering (IPO) early 2010. Emirsyah Satar told reported that the funds raised from the IPO would be used to pay for the expansion plans of the company. He added that Garuda Indonesia was worth some 1.5 billion dollar (1.1 billion euro).

The comments made were the clearest indication of the scale of the IPO until now. Earlier this year he told that somewhere between 15 and 20 percent of Garuda was to be sold, but he did not specify an amount that he hoped to raise from the sale. Plans of an IPO of Garuda Indonesia have been playing ever since the 1990's while the company has struggled to make profits ever since.

The fact that the travel ban for Indonesian airliners to countries in the European Union will be lifted any time soon and the fact that the airline wrote black figures recently are encouraging for the company and might eventually lead to it being publicly listed next year. An earlier attempt to sell shares late 2009 was canceled due to market conditions.


Related blog entries (category 'Garuda Indonesia') Related blog entries (category 'Garuda Indonesia'):
26 July 2009 · New offices and new look for Garuda Indonesia
23 July 2009 · Dream on Garuda!
21 July 2009 · Operating licenses expired; Garuda cancels purchase of airlines
05 July 2009 · Garuda Indonesia likely allowed to fly to Europe soon
20 June 2009 · Garuda finalizing acquisition of Star Air
21 May 2009 · AirAsia 'takes over' Darwin - Bali route from Garuda Indonesia

Related blog entries (category 'Garuda Indonesia') Tags: garuda, IPO


Posted in Garuda Indonesia @ 26 August 2009 11:41 CET by Jeroen · 'Blog' RSS feed · permalink





kiwimave
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(Edited) Posted @ 27 August 2009 07:30

I bet you will see AirAsia will make this route profitable within 3 months, as compared to Garuda which lost lots of money in this route. I was once in Darwin, had to pay 250-300 USD for a single ticket to DPS... Unbelievable that Garuda dared to asked those prices. AirAsia will probably ask 30-50 EUR for the same trip



belgianguy
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(Edited) Posted @ 27 August 2009 10:22

because of their aggressive fare-cutting, airasia can create totally new markets...the darwin route will no doubt become a success too...they recently started the denpasar-perth route, first with a single daily flight, but soon after already twice daily, due to vey high demand...not surprising if you see their ticket prices, it becomes affordable now to travel there even just for the weekend (I booked denpasar to perth for an incredible 70.000 rupiah!)



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