Lion goes regional with Malindo

18 Nov 2012 16:25:09

biz.thestar.com.my

RUSDI Kirana is one of Indonesia's wealthiest people. Together with his brother Kusnan, the Kirana brothers own Lion Air and are listed by Forbes as the 34th richest individuals with a net worth of US$580mil.

But there was an air of simplicity surrounding Rusdi when he sat down to give his story to StarBizWeek. There was no phalanx of bodyguards, no designer clothes or an expensive timepiece on his wrist. Dressed ordinarily, all he had with him was a nondescript haversack.

"œI walk without bodyguards because I feel nobody knows me," he says.

He spoke about his start in the business world where as a salesman, he earned US$10 a month and was hungry every day. The interview eventually gravitated towards why he is a man that the airline industry in Malaysia needs to pay attention to.

Starting Lion Air with US$1mil in seed capital when the Indonesian government liberalised the market, Rusdi seems to have found the magic touch most businesses dream about. Lion Air has been profitable from its first day of operations and today, together with Wings Air, control 50% of Indonesia's domestic air passenger market.

A regional expansion is inevitable since there is a growing market for low cost travel in Asia. A courtship with Berjaya Air and Firefly fizzled out after two attempts but Rusdi eventually found a partner in little known Tan Sri Ahmad Johan of National Aerospace and Defence Industries Sdn Bhd (Nadi) to set up Malindo Air.

Read full story: biz.thestar.com.my