Lion Air prepping for 2016 IPO
The parent company of fast growing Indonesian carrier Lion Air plans to go for an initial public offering in 2016.
Chief executive of the Lion Group, Rusdi Kirana said proceeds from an IPO would go towards funding an airport project he says is vital to continue growth.
"We are talking now with banks about an IPO and will use the money to build this hub. Now we are using our own money but hopefully by first quarter 2016, the company will do an IPO and will use the money partly for airport expansion," said Mr Kirana.
"In Indonesia there is a lot of demand and we keep increasing frequency. The only limit we have today is because of infrastructure."
Lion Air will focus on two projects in the Indonesian capital Jakarta.
It has won the right to operate and expand the former military airport of Jakarta-Halim and hopes to expand capacity there to up to 11 million passengers a year.
Kirana said the company will start construction of a brand new airport in the Lebak district outside Jakarta next year.
It will eventually have capacity for up to 50 million passengers annually.
He said the Lion Group may seek a joint venture partnership for this to keep costs in check but has not yet started discussions with any party.
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