Lion Air reportedly prepping for USD1 billion IPO

Wednesday, 06 Nov, 2019 0

Lion Air is pressing ahead with a planned $1 billion initial public offering for early-2020.

The budget airline, which is one of Southeast Asia’s largest, has been mulling an IPO for several years.

Now it believes the time is right.

"The Indonesian market is finally showing signs of stability. This is a good time to tap the market," said a person familiar with the plans, Reuters reported.

The source said executives expect to raise between $750 milliom and $1 billion.

The airline had been awaiting the publication of the final report into the Lion Air Boeing 737 Max crash a year ago.

Now that it has been published, the airline plans to go ahead with the IPO, and hopes to use funds to pay for a large number of aircraft it has on order.

However, it is still unclear whether it will go ahead with all its current orders as more than 200 are Boeing Max jets.

These may still be converted to other aircraft models.

The airline current has an operational fleet of about 120 aircraft.

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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.

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