AirAsia buys 76% in Indonesia's Batavia Air
KUALA LUMPUR, July 26 (Bernama) -- AirAsia and its Indonesian unit, AirAsia Indonesia, has acquired Indonesia's Batavia Air, a move that will boost the no-frills airlines' presence and network in the republic in a cash deal worth US$80 million or RM253 million.
AirAsia Chief Tan Sri Tony Fernandes said Batavia Air's acquisition fitted well to complement the budget carrier's international network, which was continuously growing.
"It's an extremely proud day for me. AirAsia and our partners in AirAsia Indonesia have acquired Batavia Air.
"It's a fantastic fit as Batavia is strong in domestic and we're strong at international. It's a big dream come true for me," Fernandes said in his latest posting on social networking site, Facebook.
In a statement issued by the company later, AirAsia said its wholly-owned subsidiary, AirAsia Investment Ltd, has signed an agreement with its partner, PT Fersindo Nusaperkasa, to acquire PT Metro Batavia, which operates Batavia Air and Aero Flyer Institute (AFI), an aviation training school.
The tripartite agreement was signed in Jakarta today between AAB, Fersindo and Metro Batavia.
The acquisition of 100 per cent interests in Metro Batavia by AAB and Fersindo will be executed in two stages, through acquisition of a majority 76.95 per cent stake and subsequently followed by the remaining 23.05 per cent held by its existing shareholders.
Batavia Air is an airline based in Jakarta and Surabaya. It operates domestic flights to 42 local destinations and six international services to Singapore. Its main base is Soekarno-Hatta International Airport in Jakarta.
This new acquisition will complement AirAsia's existing Indonesian operations, IAA, which has captured strong market share in Indonesia's international airline traffic, with an extensive and well-established domestic route network throughout the Indonesian archipelago.
The Batavia Air acquisition provides greater domestic connectivity and an extensive feeder network into IAA's existing hubs in Jakarta, Bandung, Denpasar, Medan and Surabaya.
Pursuant to the acquisition, Batavia Air and IAA will fly over 14 million passengers and serve 42 Indonesian and 12 international destinations.
Batavia Air's addition will provide AirAsia immediate access to an enlarged aircraft fleet, experienced pilots and flight crew and increasingly competitive slots at major Indonesian airports at a time when Indonesia's travel sector is experiencing double-digit growth on the back of rapidly growing consumer demand for air travel.
AirAsia Chief Tan Sri Tony Fernandes said Batavia Air's acquisition fitted well to complement the budget carrier's international network, which was continuously growing.
"It's an extremely proud day for me. AirAsia and our partners in AirAsia Indonesia have acquired Batavia Air.
"It's a fantastic fit as Batavia is strong in domestic and we're strong at international. It's a big dream come true for me," Fernandes said in his latest posting on social networking site, Facebook.
In a statement issued by the company later, AirAsia said its wholly-owned subsidiary, AirAsia Investment Ltd, has signed an agreement with its partner, PT Fersindo Nusaperkasa, to acquire PT Metro Batavia, which operates Batavia Air and Aero Flyer Institute (AFI), an aviation training school.
The tripartite agreement was signed in Jakarta today between AAB, Fersindo and Metro Batavia.
The acquisition of 100 per cent interests in Metro Batavia by AAB and Fersindo will be executed in two stages, through acquisition of a majority 76.95 per cent stake and subsequently followed by the remaining 23.05 per cent held by its existing shareholders.
Batavia Air is an airline based in Jakarta and Surabaya. It operates domestic flights to 42 local destinations and six international services to Singapore. Its main base is Soekarno-Hatta International Airport in Jakarta.
This new acquisition will complement AirAsia's existing Indonesian operations, IAA, which has captured strong market share in Indonesia's international airline traffic, with an extensive and well-established domestic route network throughout the Indonesian archipelago.
The Batavia Air acquisition provides greater domestic connectivity and an extensive feeder network into IAA's existing hubs in Jakarta, Bandung, Denpasar, Medan and Surabaya.
Pursuant to the acquisition, Batavia Air and IAA will fly over 14 million passengers and serve 42 Indonesian and 12 international destinations.
Batavia Air's addition will provide AirAsia immediate access to an enlarged aircraft fleet, experienced pilots and flight crew and increasingly competitive slots at major Indonesian airports at a time when Indonesia's travel sector is experiencing double-digit growth on the back of rapidly growing consumer demand for air travel.
No comments:
Post a Comment