LION AIR TO RAISE $1 BILLION IN IPO

Dino D'Amore
By Dino D'Amore February 3, 2011 12:25

LION AIR TO RAISE $1 BILLION IN IPO

Indonesian airline Lion Air is aiming to raise more than $1 billion in an initial public offering (IPO) in 2012.

Rusdi Kirana, chief executive told Reuters, that the airline plans to 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.”

The airline’s expansion plans include buying 178 aircraft from Boeing by 2016. Lion Air has a $1 billion loan to buy 22 aircraft this year, including 16 737-900s.

Lion Air needs to be removed from a European Union list of carriers banned from operating to the region following a series of Indonesian air disasters, to be able to expand further.

Dino D'Amore
By Dino D'Amore February 3, 2011 12:25
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