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JAKARTA - On the eve of what promises to be a lackluster launch to an initial public offering (IPO) by national carrier Garuda Indonesia, Indonesia's largest airline, as measured by passenger volume, Lion Air has declared its aim to raise more than US$1 billion via its own IPO targeted for 2012. The move was announced by Rusdi Kirana, CEO of Lion Air
A relative new comer to Indonesian aviation, Lion Air is targeting to carry 20 million passengers in 2011, an increase from 17 million uplifted in 2010. The carrier is currently using a loan of US$1 billion to purchase 22 new planes in 2011, including 16 Boeing 737-900s. The carrier made headlines when they ordered a record 178 new aircraft from Boeing.
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