Loading
29-Mar-2011 10:36 AM

Garuda Indonesia plans IPO in maintenance sector

Garuda Indonesia plans to float shares of its maintenance unit in the next few years (The Jakarta Globe, 28-Mar-2011). Finance director Elisa Lumbantoruan said: “The maintenance market is around USD750 million. Most of that is being tapped by foreign companies, compared to local companies’ market share, which is 20% of that.” Mr Lumbantoruan stated the carrier plans to publicly list Garuda Maintenance Facility AeroAsia in the next three to four years. Garuda plans to double its fleet to 150 by 2015.

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More