IATA to buy new helicopters

Fri, 06/20/2008 10:33 AM 

JAKARTA: Publicly listed charter airline PT Indonesia Air Transport (IATA) will buy another three new helicopters worth more than US$30 million in response to higher demand from foreign companies.

"We will use external cash to finance the purchase, which will be ordered from Europe," said president director Hartono Tanoesoedibjo at a press conference Thursday. He said the firm might issue bonds or seek loans from local and foreign banks.

IATA currently operates six helicopters and 10 airplanes for its flight charter business.

It has recently secured a one-year contract charter from mining firm PT INCO worth $3.6 million to fly from Soroako, Papua to Ujung Pandang, South Sulawesi.

The company is scheduled to operate regular flights starting in the fourth quarter of this year after securing an operating license from the Transportation Ministry.

Hartono said the airline would initially serve areas mostly in eastern Indonesia, including Bali, Balikpapan and Manado. -- JP (rff)