12-Sep-2012 9:47 AM

Citilink planning to conduct IPO in 2015

Citilink plans to conduct an IPO in 2015 according to president director Arif Wibowo and as reported by ANTARA News. The Garuda Indonesia subsidiary said, “If the profit and growth targets have been met we will conduct an IPO”. The airline is required to have an adequate number of pilots prior to holding the IPO. The airline plans to have 12 aircraft by Oct-2012. Meanwhile, Mr Wibowo said the airline does not plan to issue bonds as its activities are financed by Garuda Indonesia. The airline expects to carry four million passengers in 2012.

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