BBN Airlines Indonesia Bags Rp96bn Investment
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15 March 2024 13:26 WIB
TEMPO.CO, Jakarta - BBN Airlines Indonesia, which has received a license from the Transportation Ministry to serve scheduled commercial flights, bagged an investment totaling US$6.2 million or Rp96.1 billion from its parent company, Avia Solutions Group, at the end of 2023.
“This investment further confirms Avia Solutions Group's trust in the success and growth potential of the airline which has been actively operating in Indonesia since 2022, and increases the company's value to US$14 million (Rp217 billion),” the company said in a press release.
The company planned to allocate the funds to execute its business development strategy, increase its fleet, and support its daily operational needs.
In August 2023, BBN Airlines Indonesia successfully obtained an Air Operation Certificate, or AOC, to operate commercial passenger flights. In November 2023, the company tripled its fleet, with the presence of four new aircraft consisting of one Boeing 737-400SF and three Boeing 737-800NG units.
The issuance of the AOC certificate prompted the company to plan scheduled flights starting March 2024.
“The Transportation Ministry has stated that BBN Airlines Indonesia is feasible and meets the regulatory standards to open commercial passenger flights which will begin operations immediately in March 2024,” said the airlines' chairman Martynas Grigas in Jakarta on Monday, March 11, 2024.
Martynas also said he would utilize the investment to realize the company's strategic plan to operate a total of 40 aircraft by the end of 2027.
YUDONO YANUAR
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