Indonesia's Government is reviewing plans to establish an independent evaluating committee to monitor and evaluate the realisation of Garuda Indonesia`s plan to raise up to USD350 million through an initial public offering (IPO) in Feb-2011 (ANTARA News/Jakarta Globe, 13-Jan-2011). The carrier commenced a series of investor meetings on 13-Jan-2011 in Singapore to gauge demand for its IPO. Garuda president director Emirsyah Satar said: “We are meeting with 26 institutions in Singapore. So far the response is positive. However, don’t ask about a price range. We did not talk about price but value.”
Government reviewing plans to establish committe to evaluate Garuda IPO
You may also be interested in the following articles...
Southeast Asia: A dismal 2014 was followed by a much better 2016
Southeast Asian airlines experienced a significant improvement in profitability in 2015 as fuel prices dropped and market conditions became more favourable after a dismal 2014. However, Southeast Asia’s airline sector continues to underperform compared to other regions in Asia Pacific and particularly to Europe and North America.
Singapore Airlines to launch Jakarta-Sydney, further intensifying SE Asia-Australia competition
Singapore Airlines (SIA) will launch services from Jakarta to Sydney in Nov-2016, resulting in new competition for rivals Garuda Indonesia and Australia’s Qantas Airways. SIA’s entrance on the Jakarta-Sydney route is a strategic move and highlights its desire to pursue new areas of growth.
The Indonesia-Australia market is a logical market for SIA as it seeks to diversify its business. Indonesia and Australia are already SIA’s two largest international markets and Garuda and Qantas are already among its biggest competitors.
Competition within Asia Pacific, including the Southeast Asia-Australia market, has been intensifying. In the current highly competitive and challenging environment airlines are constantly jockeying and exploring new options to improve their position.