AP1 Bags Rp5tn Loan to Develop Airports

Translator:

Editor:

Petir Garda Bhwana

  • Font:
  • Ukuran Font: - +
  • TEMPO.CO, Jakarta - Airport operator Angkasa Pura I (AP1) has obtained a total loan of Rp5 trillion from several banks and financial institutions. Company official says the loan would be used to finance airports` development.

    The loan came from Bank Tabungan Negara (BTN), Sarana Multi Infrastruktur (SMI), and BRI Syariah.

    President director Faik Fahmi said in a written statement on Tuesday that AP1 will use the fund as capital expenditure (capex) as well as to finance development projects at airports managed by the company.

    According to Faik, AP1 needs a total funding of Rp17.53 trillion in 2019. The company will source the remainder of that need by issuing bonds and borrowing from other lenders.

    Faik added that AP1 airports have been showing high traffic increases over the past few years, while their capacities are still quite limited.

    "With the loan, we hope business performances will improve and that the service quality and passengers' satisfactory will increase," he said.