Regulator OKs acquisition of Batavia Air

Nurfika Osman, The Jakarta Post, Jakarta | Business | Thu, August 30 2012, 4:41 PM

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(JP/Zul Trio Anggono)

The Transportation Ministry has given its approval to PT Metro Batavia to sell its stake in Batavia Air to PT Fersindo Nusaperkasa, the owner of 51 percent of Indonesia AirAsia, and Malaysia-based AirAsia Berhad.
“We agree that Batavia Air can sell its shares to Fersindo and AirAsia Berhad, and the process should be in line with ownership regulations in Indonesia, which require at least 51 percent Indonesian ownership,” the ministry’s air transportation director general Herry Bhakti Gumay said.
The airline would need additional permits if it wanted to operate as a budget carrier, Herry said.
Separately, Batavia Air commercial director Sukirno Sukarna said that the company received its permit from the ministry on Wednesday.
“We are going to further communicate this to Fersindo and AirAsia Berhad,” Sukirno told The Jakarta Post over the telephone.
After the due diligence, the firms would acquire 76.95 percent of Batavia Air’s shares next month. Sukirno said.
“If everything goes smoothly as planned, the first phase of the acquisition will take place in the middle of September,” Sukirno added.
Dharmadi, who is the president director of both Fersind and Indonesia AirAsia, said in a statement that the acquisition would be complete by March. (iwa)

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