Sunday, December 11 2016

VietNamNews

Lion Air joint venture planned in Viet Nam

Update: November, 18/2016 - 11:59
Boeing 737 belonging to Batik Air at Ngurah Rai International Airport. Indonesia’s Lion Air expects to operate in Viet Nam under its Batik Air brand name in 2017. — Photo thejakartapost.com
Viet Nam News

Indonesian airline giant PT Lion Mentari Airlines (Lion Air) is currently negotiating a joint operation with a Vietnamese partner, and signed a memorandum of understanding on November 15 in Jakarta, said Edward Sirait, President Director at Lion Air.

According to the memorandum, the joint venture will be called Batik Air in Viet Nam.

Additionally, Lion Air will hold 49 per cent of the shares, while their Vietnamese partner will retain the remaining 51 per cent. Plans for the joint operation are expected to be completed in the second quarter of 2017.

In 2014, Lion Air initially sought to establish a new airline in Australia, in which the company would hold 100 per cent of the shares. However, Lion Air’s co-founder, Rusdi Kirana, stated that this plan was delayed because the airline decided to expand their operation in the ASEAN market.Lion Air is based in Jakarta, Indonesia and is the country’s largest private airline, operating as a low-cost carrier and the second largest low-cost airline in Southeast Asia, after AirAsia. — VNS

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