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Regulator OKs acquisition of Batavia Air

1 Sep 2012 00:07:42

thejakartapost.com

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.


"œWe 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.


Read full story: thejakartapost.com

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