3-Feb-2011 10:05 AM

Lion Air to raise more than USD1bn in IPO

Lion Air aims to raise more than USD1 billion in an initial public offering in 2012 (Reuters, 02-Feb-2011). The carrier’s expansion plans, include the purchase of 178 Boeing aircraft. CEO Rusdi Kirana said Lion Air has secured a USD1 billion loan to purchase 22 aircraft in 2011, including 16 B737-900s.

Lion Air: "We will ... use the IPO money as additional capital for our company as we have a huge expansion plan, but it doesn't mean we badly need money. We have all the financing we need through loans," CEO Rusdi Kirana. Source: Reuters, 02-Feb-2011.