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 · Garuda Seeking to Cut Links with Citilink
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

Garuda Seeking to Cut Links with Citilink

As IPO Deadline Approaches, Garuda Consider Ditching it's Low-Cost Subsidiary Citilink.


Bali News: Garuda Seeking to Cut Links with Citilink
Click Image to Enlarge

(9/13/2010)

In an effort to sharpen its balance sheet on the eve of its public share offering, the national carrier Garuda Indonesia is reported by the Jakarta Globe to be seeking to spin off its under-performing subsidiary Citilink Indonesia.

Didu, who works for the Minister of State-Owned enterprises confirmed that Garuda wants to improve its bottom line by divorcing the low-cost carriers from the financial results of Garuda. According to Didu: "Citilink is struggling to turn a profit. Competition in the low-cost carrier sector is quite tough. Garuda should spin off Citilink and focus on improving its performance ahead of its IPO."

Seeking the proper timing and financial conditions before offering shares to the public, Garuda's original plans to launch its IPO in mid 2010 have been delayed until at least November 2010.

Citilink lost money in 2009 against revenues of US$33.3 million. Projected revenues of US$77.7 million in 2010 are expected to put Citilink into the black.

The difference in business cultures between Garuda operating as a full-service carrier and the no-frills approach of low-cost Citilink are also cited as a reason to separate the two companies.


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


 
UBUD WRITERS & READERS FESTIVAL
 
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
Gypsy at the Wheel
Widespread Violation of Laws on Taxi Meter Use Damaging the Reputation of Bali as a Tourism Destination
(8/30/2014)
It's a Jungle Out There
Denpasar Zoning and Building Authorities Falling Miserably in the Enforcement of the Law
(8/30/2014)
Tough Rules for Hotel Permits in Kuta, Bali
Bali Stops Hotels on Postage Stamp Pieces of Land in Kuta
(8/29/2014)
A Park for Pedestrians
Pedestrian Underpass at Ngurah Rai Monument at Bali Airport Set to Open in Early 2015
(8/29/2014)
A Park for Pedestrians
Pedestrian Underpass at Ngurah Rai Monument at Bali Airport Set to Open in Early 2015
(8/29/2014)
We've Got Rhythm!
Bali's Famous and Inspiring Kecak Dance Has a Rich and Varied History
(8/29/2014)
In Style and Safety to Gili Trawangan
Bounty Cruises Mounts Luxury Daily Departures from Bali to Gili Trawangan
(8/29/2014)
In Style and Safety to Gili Trawangan
Bounty Cruises Mounts Luxury Daily Departures from Bali to Gili Trawangan
(8/29/2014)
In Urgent Need of Connections
PLTU Celukan Bawang Aiming to Start Producing Electrical Power for Bali in December 2014 - a Year Behind Schedule
(8/29/2014)
The Stark Truth About Drinking Beer
Stark Beer - a World Class Beer Produced in a Modern Brewery on Bali's North Coast
(8/29/2014)
Signs of Corruption
Three Suspected in Corruption of Bali Airport Sign Taxes
(8/29/2014)
Diminishing Staying Power of Bali's Home Stays
Lawmaker Complains that Traditional Home Stays in Ubud are Threatened by Growth in Number of City Hotels
(8/29/2014)
All [News]!
 
Tourism and Transport Tourism Agents