Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Adam Air Sells 50% of its Shares
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

Bali Discovery

SITE PATA ASITA
Bali News

Adam Air Sells 50% of its Shares

New Funds to Secure 60 Planes and Rebuild Shattered Reputation of Indonesian Low Cost Carrier.


Bali News:
Click Image to Enlarge

(4/28/2007)

Threatened with closure for its poor safety record, troubled Adam Air has sold a 50% share of its business to PT Bhakti Investama (Bhakti) - a large Indonesian corporation with holdings in the mass media and telecommunications controlled by the PT Bimantara Citra group.

While both Bhakti and Adam Air are remaining mum on the cash value of the sale of 50% of the company, an Adam spokesman did confirm that the "new cash" would allow the Airline to move ahead with plans to acquire 60 new aircraft. Adam Air plans to add 10 new aircraft in 2007 comprised of Boeing 737-300 and Airbus A320 equipment.

Adam Air, currently operates 22 airplanes.

Part of Adam Air's medium-term plans include acquiring an armada of sufficient size to take advantage of more liberalized commercial air policies expected to come into effect in ASEAN in 2010.

According to the Indonesian-language Bisnis Indonesia, Bhakti financed its buy-in to Adam Air via a US$100 million loan from Lehman Brothers. Plans are for the loans to eventually be converted in to tradable obligations bearing a 6% rate of interest which will converted into shares when Bhaklti's shares achieve a price of Rp. 1,650 per share (approximately US$0.18). Following the announcement of the buy-in Bhakti's share price closed at Rp. 1,100 per share, up slightly from the previous day's close of Rp. 1,090.

To fund the rapid expansion plans of Adam Air the owners of the airline plan to take the airline public in the near future on one of the regional bourses.


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.

       

 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
Not Running in Fear
Anindya Bakrie: Herbalife Bali International Triathlon Shows the World that Bali Remains Safe for Holidays
(10/15/2017)
A Triathlon for the Soul
Herbalife Bali International Triathlon Attracts Record Numbers and Record Times
(10/15/2017)
Stay Calm and Look at the Facts
Bali Tourism Board Chairman: Foreign Consuls Asked to Be Moderate and Fair in Assessing and Communicating Safety in Bali.
(10/15/2017)
A Mountain of Debt
Financial Service Authority (OJK) Seeking to Ease Debt Burden of Company’s Affected by Mount Agung Alert Status
(10/15/2017)
Too Many? Too Late?
PHRI Chairman Says Badung Regency Taking Measures to Limit the Building of New Hotel Accommodation
(10/15/2017)
A Bookable Event
Shaping Up to be The Best Ever: 14th Ubud Writers and Readers Festival October 25-29, 2017
(10/15/2017)
Why Bali Remains Safe
98% of Bali Landmass Outside of ‘Danger Zone’ of Any Potential Mount Agung Eruption
(10/15/2017)
Artotel on the March
Artotel Indonesia Group Blossoms and Transforms with Opening of the Artotel Beach Club And Artotel Haniman-Ubud
(10/15/2017)
Fine Mexican Dining on the Peninsula
Banyan Tree Ungasan, Bali Presents a Mexican Wine Dinner with Chef José Manuel Morales October 24-27, 2017
(10/15/2017)
Commemorating Unspeakable Tragedy
Bali Governor Urges Forgiveness on the 15th Anniversary of Bali Bombings
(10/15/2017)
Revealing Victoria’s Secrets
Garuda Indonesia to Fly Eight Times a Week From Bali to Melbourne
(10/15/2017)
A Batu Belig Bái Bái
Chinese Female Tourist Commits Suicide in Kerobokan Road Side Shed
(10/15/2017)
All [News]!