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Indonesia’s Sriwijaya plans B777 order ahead of March 2017 IPO
September 30th 2016
Jakarta-headquartered Sriwijaya Air plans to order three B777-300ER aircraft for hajj flights, said its owner and CEO, Chandra Lie. The first wide body is scheduled by year-end, with the remaining two due for delivery next year. Read More »
Founded in 2003, the privately owned carrier has an all-Boeing fleet of 37 short-haul aircraft serving 34 destinations with 161 daily flights. The airline flies mostly domestically, but in June announced it would launch daily services from Bali to Hangzhou, Nanjing, Wuhan and Changsha by year-end.
Lie intends to launch an Initial Public Offering (IPO) in March, despite the industry’s weakened outlook. “We’ve been working on it so that we can launch an IPO in March. Progress is now at around 70%,” Lie said.
Until now, state-backed flag carrier, Garuda Indonesia, has been the only airline listed on the Indonesia Stock Exchange. Garuda had its IPO in 2011 and the stock has since lost significant value.
