Ilham Habibie: Funds Raised for R80 Airplane Not for Investment

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  • Ilham Habibie. TEMPO/Budi Yanto

    Ilham Habibie. TEMPO/Budi Yanto

    TEMPO.CO, Jakarta - As of Wednesday, November 22, 2017, at 5 p.m., the crowdfunding initiative for the development of R80 airplane prototype had raised Rp6.181 billion. More than 15,000 donors participated in the initiative posted at crowdfunding site

    PT Regio Aviasi Industri (RAI) commissioner Ilham Habibie said the huge amount of funds raised by the initiative reflects supports from the public for the project. However, Ilham clarified that the funds would not be used for investment.

    “It’s more like supports. We have never intended to fund the project through a crowdfunding. It’s a donation. In Indonesia, the Financial Services Authority (OJK) does not allow donations to be used for investment purposes,” Ilham said in Jakarta on Wednesday, November 22.

    The son of third Indonesian President B. J. Habibie added that his company has no legal obligation to the donors. However, he has not yet revealed the detailed plan related to the funds.

    The total amount of funds needed to build the R80 prototype is more than Rp200 billion. Meanwhile, the funds needed to develop the business could reach US$1.5 billion or more than Rp20 trillion.

    Ilham explained that he had contacted qualified manufacturers to be made as partners for the R80 development. However, he declined to reveal the names of the potential partners.