Aviation

Garuda Indonesia Goes Public

Garuda Indonesia Airbus A330-200 line up before take off at Kingsford Smith Intl Airport, Sydney.

There are two remarkable news this week which put the history throne into Indonesia’s aviation industry. The nature wings (read: Garuda Indonesia) airline has been all set with its Initial Public Offering which becomes the first national airline (used to be state owned) to be listed in the Indonesia Stock Exchange (IDX).

The initial listing is scheduled on 11 February 2010 in which currently several activities such as Public Expose, Investor Gathering have been conducted to invite many local investors. As mentioned by the company, Garuda Indonesia is currently seeking to raise up to Rp. 10 trillions by selling the 36.5% stake in the company. Meanwhile, the shares priced at Rp. 750,- – Rp. 1,000,- per shares.

The initial public offering is not prioritizing foreign investors but local investors. The portion of 70% out of total shares will be designated to the local investors therefore the stake revenue will be based in Indonesia.

Since IPO is always be the first time for a company to finally go public, and by this case, looking at public’s interest to participate, proving that many people obtain great trust for the company. The price which set at Rp. 750 – Rp. 1,000,- believed as the appropriate price to invite buyers.

Garuda hopes to collects Rp. 10 trillions by the IPO so that the company’s expansion of Garuda Quantum Leap 2014 could be achieved. Garuda Indonesia is currently waiting for its Boeing 777-300ER delivery which scheduled to arrive as many as 6 aircraft replacing the soon-to-be-phased-out Boeing 747-400.

Garuda might not be the best airline in the world, but this airline indicates the spirit of Indonesia which never dies.– Kleopas Danang

Optimism and efforts that shown by the company has reflected the nature of Indonesians. We may have suffered many bad times before which becomes our learning, and we struggle to recover those mistakes by taking every responsibility as hard as we could to return public’s trust.

Last year was the glorious year for Garuda, lifted from European Union bans, starting flight to Amsterdam, joining Sky Team Alliance, and this year is started by Garuda Indonesia Initial public offering as we all hope the IPO would run smoothly.

Bravo Garuda!

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