Close
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: Adam Air Sells 50% of its Shares
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
Dry Brollies in Bali
Bali Weather Forecasters Predict Delayed Rains to Finally Fall in November
(10/27/2014)
In Bali Exquisite Music is Child's Play
Twice Weekly Performance of Ancient Balinese Music in Sanur Through February 1, 2015
(10/27/2014)
More is Less
More Warnings About the Disastrous Effects of Uncontrolled Growth in Bali Accommodation Sector
(10/27/2014)
Nusa Penida Conservation Fees to Increase
Klungkung Regency Plans to Increase Entrance Fees for Day Visitors to Nusa Penida by 1,070%
(10/27/2014)
A Failure to Deliver
CEO of Hotel Bali Kuta Residence Facing Trial for Fraudulent Property Deal
(10/27/2014)
Surf's Up
56-Year-Old Australian Dies While Surfing on Kuta Beach
(10/27/2014)
Keeping the Welcome Balinese
Deputy Governor Calls for More Balinese Signage at Airport and Other Key Locations
(10/27/2014)
This Place is for the Birds
Bali Bird Park Celebrates 19 Years of Operations with Special Offers and New Bird Exhibits
(10/27/2014)
Donít Look Now!
Baliís Iconic Panorama at Kintamani Vanishing Behind Illegal Buildings
(10/27/2014)
Baliís Flushed Away Success
3 of 4 Baliís Lakes Now Badly Polluted; Failure to Act Threatens Baliís Supply of Drinking Water
(10/27/2014)
Seeking Permission to Land
Malaysian Airline Flight Makes Emergency Diversion to Bali When Passenger Goes into Labor
(10/27/2014)
Murder at Bali Emerald Villas in Sanur, Bali
Long-Time Bali Resident Bob Ellis Murdered in What Police Believe was Murder-for-Hire Scheme Orchestrated by His Wife, Noor Ellis
(10/24/2014)
All [News]!