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 Indonesia, IPO, 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.

       

 
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
A Gas Attack?
Explosive Sewage System at Paragon Hotel in Jimbaran Sends two Staff Members to Hospital
(6/25/2016)
India Calling
Bali Calls for Direct Flights Between India and Bali
(6/24/2016)
RIP: Raymond Maurice Butler 1952-2016
Ray Butler, Bali Hotel Veteran Dies from Prolonged Illness at Siloam Hospital
(6/24/2016)
Keeping the Islamic New Year Safe
Bali Boosts Security for Idul Fitri Holiday Rush
(6/24/2016)
Bali Bounces Bogans Back to Base
Badly Behaving Drunken Perth, Australia Man Deported from Bali Just 24-Hours After Arrival
(6/24/2016)
LOT Polish Now Flies to Bali
Twice-Weekly Warsaw to Bali Flights on LOT Polish Airlines Commence Service to Bali
(6/24/2016)
Misinformation as a Virus
Bali Hotel Association Brands Australian Government and Australian Media Statements on Zika Virus as “Hype”
(6/24/2016)
Home for the Holidays
Bali’s Ngurah Rai Airport Adding Additional Flights for Idul Fitri Holidays
(6/24/2016)
Quest No More
Woman Commits Suicide by Leaping from Quest Hotel in Kuta
(6/24/2016)
A Rockin’ Middle Age
Hard Rock Hotel Bali Celebrates Founder’s Day With Beach Clean Up & Turtle Release
(6/24/2016)
They Shall Not be Moved
ForBali Protestors Stage Another Mass Demonstration Against Reclamation of Benoa Bay, Vowing Recent Physical Attacks Will not Deter their Protests
(6/19/2016)
Garuda Doodle Dandy
Garuda Indonesia Plans to Fly to USA in 2017
(6/19/2016)
All [News]!