"We will not issue bonds. We still rely on Garuda."Jakarta (ANTARA News) - Lost-cost airline Citilink, a subsidiary of national flag carrier Garuda Indonesia, intends to conduct an initial public offering of its shares in 2015, its president director Arif Wibowo said.
The airline company will conduct an IPO only if its profit has doubled and its performance has grown, he said on the sidelines of a national meeting of the Indonesian Chamber and Commerce and Industry (Kadin) for investment and transportation here on Tuesday.
"If the profit and growth targets have been met we will conduct an IPO," he said.
One of the requirements to conduct the IPO is the adequate number of pilots. By October 2012, Citilink will have 12 planes, he said.
Asked about the possibility of the airline issuing bonds, he said the company had no plan to issue bonds because the financing of its activities is borne by Garuda.
"We will not issue bonds. We still rely on Garuda," he said.
Citilink carried 1.84 million passengers in the first semester of this year, a 62 percent increase compared to 1.14 million in the same period last year.
The airline posted an income of almost Rp1 trillion in the first half of 2012. The income is projected to reach Rp2 trillion throughout this year.
The budget carrier expects to carry 4 million passengers this year.
(Uu.S012/A014)
Editor: Priyambodo RH
Copyright © ANTARA 2012
