InfoAnda - Indonesia carrier Garuda talks up IPO

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Fight Al-Qaeda with satire, ridicule: researchers | 17 April 2010
Sharp forecasts bigger full-year operating loss | | 1 November 2012
NBC chief: Leno late-night return is right move | 20 January 2010

Mets struggling to come up with clutch hits in early part of season | 11 April 2011

Forum Views () Forum Replies ()

Read more with google mobile : Indonesia carrier Garuda talks up IPO

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World Indonesia carrier Garuda talks up IPO AFP - Sunday, January 16 Send IM Story Print Indonesia carrier Garuda talks up IPO Slideshow: Full Photo Coverage: Business & Economy JAKARTA (AFP) - – Its symbol is Garuda, the winged steed of Vishnu in Hindu mythology, but Garuda Indonesia's fortunes more closely resemble the Phoenix, which rose from the flames to fly again. This, at least, will be the story Indonesia's national carrier takes to potential investors this week as it touts its initial public offering (IPO) around Hong Kong, London and New York. Its scheduled listing on February 11 may raise up to 10.3 trillion rupiah ($1.1 billion) through the sale of 9.32 billion shares, or 36 percent of its capital, at between 750 and 1,100 rupiah each. At that scale it is likely to be the biggest listing on the Indonesian share market -- which soared 46 percent last year -- in 2011 and one of the largest in what is expected to be a busy year for underwriters across Asia. Under the stewardship of former banker Emirsyah Satar, the airline has fixed the safety concerns that saw it banned, along with every other Indonesian airline, from European skies in 2007. The ban was lifted in 2009 and Garuda is now hoping to cash in on investors' appetite for emerging market assets to pay off some of its debts and fund an aggressive expansion strategy including new planes and routes. "We will use the funds from the IPO to expand our Garuda fleet, and some of them will be used to expand our subsidiaries," Satar said at the IPO's launch in Jakarta. "Our domestic passenger growth is promising. Indonesia still has low penetration of airline passengers compared to our neighboring countries." More Indonesians can afford to fly, Satar said, adding that the geography of the Indonesian archipelago means travellers depend on air or sea transport. Garuda posted a net profit of more than 100 million dollars in 2009 and was named the world's most improved airline last year by London-based research company Skytrax. Its last fatal crash was in Yogyakarta in March 2007, when 21 people were killed. The airline is well-placed to take advantage of Indonesia's booming economy -- with growth racing along at around six percent last year despite the global downturn -- and large population. Most Indonesians still rely on ferries, buses and motorbikes to traverse the archipelago's 17,000 islands, but as incomes rise they will quickly switch to the convenience and speed of flight. "With a population of more than 230 million people and a growing GDP, we have ample room for growth," Satar said. "The growth of airline passengers in a country is usually about 1.5 to two times its GDP growth. If the economy grows six percent, multiply it by 1.5 to two times, then passenger numbers will grow from nine to 12 percent." He said this burgeoning domestic market would help offset hiccups to inbound traveller numbers, such as occurred after the 2002 Bali bombings or the recent eruption of Mount Merapi volcano. "When the Bali bombing occurred, the number of inbound passengers declined compared to the years before. But Indonesia's domestic passengers still had high mobility to support us," Satar said. It should be an easy sell, given the massive inflows of foreign capital into Indonesia share and bond markets last year. Shares in Krakatau Steel, the country's biggest steelmaker, were nine times oversubscribed and soared 49 percent within hours of debuting on the market on November 10. But Garuda's road to riches has not been without its obstacles. The IPO was initially due to take place last year but was delayed by three months, and there have been reports of last-minute doubts over the correct share price. In November it was forced to issue a public apology for three days of flight chaos caused by the loss of crew rotation data during a switch to a new operating system at Jakarta airport. More than 700 passengers were affected by flight delays and cancellations which Satar blamed on someone failing to plug in a cable during the software switch. Indeed, the press conference to launch the IPO on Wednesday was delayed by several hours without clarification. On the same day, the model of strong demand for low-cost domestic air travel took a blow when budget Indonesian carrier Mandala was forced to suspend operations and seek urgent talks with creditors. The share market, meanwhile, has stumbled in the first weeks of 2011 amid concerns over rising inflation, and there are also worries about fuel prices, analysts said. "The timing isn't perfect. Garuda should have launched its IPO last year when the market was significantly bullish," Ciptadana Security analyst Syaiful Adrian told AFP. But none of this is clipping Satar's wings as he jets around the world drumming up support. "In 2010 we received four stars from Skytrax. We hope we can receive five stars in 2013. In the world, only six airlines have obtained five stars," he said. Recommend Send IM Story Print Related Articles Hu calls currency system 'product of the past' AFP - 18 minutes ago FACTBOX-Chinese president upbeat on eve of U.S. summit Reuters - 1 hour 12 minutes ago US-BUSINESS Summary Reuters - 1 hour 19 minutes ago China's Hu resists U.S. yuan concerns Reuters - 1 hour 19 minutes ago Trichet urges enhanced Europe standby fund Reuters - 1 hour 52 minutes ago News Search Top Stories United back on top of Premier League after Spurs draw Europe split over boosting euro crisis fund Oil price over $100 'not unrealistic': Iran British actress Susannah York dies aged 72: report Smoking causes gene damage in minutes More Top Stories » ADVERTISEMENT Most Popular Most Viewed Smoking causes gene damage in minutes British actress Susannah York dies aged 72: report Zsa Zsa Gabor has leg amputated to save life Europe split over boosting euro crisis fund Oil price over $100 'not unrealistic': Iran More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Monday, 17 January 2011
Irish PM calls confidence motion on leadership |
Paramedics describe hellish Ariz. shooting scene
Islamists in Jordan call for end to authoritarian rule |
Hezbollah, allies will not support Hariri for PM |
Berlusconi says he never paid for sex |
US-ENTERTAINMENT Summary
Venezuela parties warily welcome Chavez olive branch |
Hollywood's eyes focus on Golden Globe Awards
Porsche mulls factories in Asia, US: chief
Indonesia carrier Garuda talks up IPO
Uzbeks hold China to reach Asian Cup last eight
Hu looks for 'common ground' in landmark US visit
Cyclist Goss gets off to golden start Down Under
Southeast Asia seeks common ground on sea disputes with China
China on the rise again, says football captain Du
India's Anil Ambani says market 'ban' voluntary
N. Korea to tighten defence for must-win match
Watson seals Australia win with a six
Hollywood's eyes focus on Golden Globe Awards |
Green Hornet flies high at box office |
Sudan opposition threatens protests over price hikes
Hezbollah, allies will not support Hariri for PM
Former dictator Baby Doc Duvalier back in Haiti |
Around 20 Afghan migrants feared drowned off Corfu
Monfils survives in five sets at Australian Open
Tunisia PM to announce new government |
Europe divided over expanding euro crisis fund
Islamists in Jordan call for end to authoritarian rule
Australia says economic cost of floods to top other |
Battles in Tunis as new government takes shape
Iran says firm on nuclear rights as tour ends
Sudan opposition threatens protests over price hikes |
United back on top of Premier League after Spurs draw
IAEA envoys visit Iran's Natanz enrichment site
Nine killed by Afghan bomb en route to wedding
Iran searching for nuclear bomb materials
China tried 376 defendants in 2010 for Xinjiang unrest |
Poll shows Turkey's Erdogan likely to win election
S. Korea civil servants to don long johns
Kazakh council to rule on extension to leader's rule |
As Vietnam booms, Communist Party struggles to keep up |
Nervy Sharapova into Australian Open second round
China's Li Na raises Asian Slam hopes
Bale, Bening early winners at Golden Globes
Watson turns attention to floods
The Golden Globes: Live Report
Hu talks tough on currency ahead of US visit
US-ENTERTAINMENT Summary
Ding crushes Fu to clinch Masters
Myanmar ethnics, ASEAN call for sanctions lift
Pakistan army hails anti-Taliban 'heroes' in TV drama
Do video games fuel mental health problems? |
Vietnam's communist party to vote on leaders
NZ annual food inflation slows in December
'The Social Network' finds friends at Golden Globes
Seoul shares open up modestly on techs, shipyards
US-ENTERTAINMENT Summary
Taiwan firm to make wheat, rice stalk paper: media
"Social Network" electrifies Golden Globes
The Golden Globes: Live Report
Hu calls currency system 'product of the past'
"Green Hornet" flies high at box office
'Green Hornet' leaps to US box office top spot
Social Network electrifies Golden Globes |
Ricky Gervais too funny for Hollywood |
Russian firm builds web empire at home and abroad
Israel tested Stuxnet on Iran, with US help: report
Afghan govt taxes US aid: report
Airbus beats Boeing with 574 orders in 2010
US-TECH Summary
Australia, Afghanistan sign deal on refugees
Hitting the beach in Australia? Bring your phone
'The Social Network' triumphs at Golden Globes
Vimpelcom board backs revised Egypt telecoms deal
Researchers aim to resurrect mammoth in five years
Nokia pulls plug on free music in most markets
Observers approve south Sudan independence vote |
Smartphones lift Apple and Samsung in quarterly phone bonanza
World is 'one poor harvest' from chaos, new book warns
Lebanon postpones talks on new government by a week |
Cyber attacks could create "perfect storm": OECD
Do video games fuel mental health problems?
Israel's Barak breaks away from Labor party |
U.S. congresswoman Giffords upgraded from critical to serious
Sanctions hurt Iran, but compromise unlikely: report |
Prosecutors detail sex probe against Berlusconi |
India pick proven stars for cricket World Cup
Bid to oust Irish PM Cowen lacks support: government whip |
Iran suspends hanging sentence in stoning case: MP |
Australia says cost of floods to top other disasters
Special Report: Is a solar trade war about to flare? |
Sino-US relations: Friction inevitable as bonds grow stronger
Elijah Wood predicts "amazing" reunion on "Hobbit"
Thailand may close down several diving paradises
President to intervene in one of Indonesia's biggest graft cases
15 Thai districts declared cold-spell disaster zones
Americans creative but arrogant, say Chinese
Researchers aim to resurrect mammoth in five years
China's yuan reforms reflect global economic heft
Apple's Steve Jobs takes medical leave |
Seoul shares shed 0.4 pct on steelmakers, refiners
Seoul looks to U.S.-China summit to pressure North
Smartphones lift Apple and Samsung in quarterly phone bonanza |
Blackberry says will abide by Indonesia porn access ban |
Asahi leads as Japan beer shipments fall to record low
Curfew imposed in Karachi after spate of killings
Cyber attacks could create perfect storm
China pledges tougher fight on online piracy
Swiss whistleblower hands bank data to WikiLeaks |
Nokia pulls plug on free music in most markets |
Pakstan c.bank to buy govt paper in 4-day reverse-repo
Hitting the beach in Australia? Bring your phone |
Asia Fuel Oil- Taiwan Formosa sells 50,000T Jan at higher prices
Pakistan
China property prices higher in December
S. Korean firms eye fresh gains at US auto show
Korea Hot Stocks-Samsung Elec up firmly on foreign buying
Elijah Wood predicts amazing reunion on Hobbit |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01