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August 05, 2015 12:56 AM ET

Airlines

Company Overview of PT Indonesia Airasia

Company Overview

PT Indonesia Airasia offers air transportation services. The company is based in Indonesia. PT Indonesia Airasia operates as a subsidiary of AirAsia Bhd.

,  

Indonesia

Founded in 2007

Phone:

62 215 050 5088

Key Executives for PT Indonesia Airasia

President Director and Chief Executive Officer
Compensation as of Fiscal Year 2015.

PT Indonesia Airasia Key Developments

AirAsia Mulls IPO For Indonesia Airasia and Philippines AirAsia

AirAsia Berhad (KLSE:AIRASIA) is seeking a IPO for PT Indonesia Airasia and Airasia Inc. AirAsia Bhd (AAB) announced on June 17, 2015, a corporate exercise which includes potential new equity for PT Indonesia Airasia (IAA) and Airasia Inc. (PAA) via a convertible bond issuance. The first step was to raising share capital to about $100 million each for IAA and PAA from the present level of $13.81 million and $13.28 million respectively. “The management is now in the final stages of discussions with the local partners to raise share capital to around $100 million for IAA and PAA from the present level of $13.81million and $13.28million respectively. “Part of the cash raised will be used to pay down AirAsia Bhd’s interco,” it said. Under the second step under the pre-IPO, it said plans were to raise a minimum of $100million from new investor(s). AirAsia said it is finalising the structure of the Pre-IPO exercise which is targeted to take place in the near term. Under the third step, the IPO will have a valuation of about $700million for IAA and $600million for PAA. The target to IPO both associates will be in 2017, with valuation of approximately $700 million for IAA and $600million for PAA. “The company targets to float 20% of the shares raising minimum of $150million. At IPO all shareholders will be diluted proportionately. Part of the IPO proceeds will be used to pay down AAB’s interco,” it said.

Indonesia Airasia IPO Delayed

PT Indonesia Airasia has postponed its initial public offering (IPO) plan due to the weakening of economy and the current pressure on the aviation industry. Tony Fernandez, Chief Executive Officer of AirAsia Berhad (KLSE:AIRASIA) said, "There are no developments on IPO, and it seems that we will not conduct IPO in the near future. Who wants to buy shares in aviation companies facing tough conditions at the moment? The company will wait until rupiah strengthens, and will focus on reducing costs amid the tightening of competition in the industry."

PT Indonesia Airasia Announces Unaudited Earnings and Operating Results for the Fourth Quarter and Full Year Ended December 31, 2014

PT Indonesia Airasia announced unaudited earnings and operating results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenue of IDR 1,731,634 million against IDR 1,566,837 million a year ago. Operating profit was IDR 23,388 million compared to operating loss of IDR 369,090 million for the same period a year ago. Loss before tax was IDR 63,414 million compared to IDR 429,317 million for the same period a year ago. EBITDAR was IDR 356,121 million compared to LBITDAR of IDR 60,324 million for the same period a year ago. Loss after tax was IDR 63,414 million compared to IDR 429,317 million for the same period a year ago. For the year, the company reported revenue of IDR 6,340,254 million against IDR 5,801,845 million a year ago. operating loss was IDR 562,619 million compared to IDR 125,891 million for the same period a year ago. Loss before tax was IDR 856,330 million compared to IDR 373,914 million for the same period a year ago. EBITDAR was IDR 721,395 million compared to IDR 832,036 million for the same period a year ago. Profit after tax was IDR 856,330 million compared to IDR 373,914 million for the same period a year ago. For the quarter, seat load factor was 80% against 76% a year ago. RPK was 2,303 million compared to 2,506 million for the same period a year ago. ASK was 2,896 million compared to 3,271 million for the same period a year ago. For the year, seat load factor was 78% against 76% a year ago. RPK was 9,150 million compared to 9,293 million for the same period a year ago. ASK was 11,663 million compared to 12,136 million for the same period a year ago.

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