On the eve of what promises to be a lackluster launch to an initial public offering (IPO) by the national carrier Garuda [See: Garuda IPO Failing to Soar], Indonesia's largest airline, as measured by passenger volume, Lion Air has declared its aim to raise more than US$1 billion via its own IPO targeted for 2012.
The move was announced on Wednesday, February 2, 2011, by Lion Air's CEO, Rusdi Kirana.
A relative new comer to Indonesian aviation, Lion Air is targeting to carry 20 million passengers in 2011, an increase from 17 million uplifted in 2010. The carrier is currently using a loan of US$1 billion to purchase 22 new planes in 2011, including 16 Boeing 737-900s.
The carrier made headlines when they ordered a record 178 new aircraft from Boeing.
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