“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

Wednesday, February 03, 2010

Garuda Plans IPO This Year

The Wall Street Journal, by P.R. VENKAT

Garuda plans to increase its fleet size to 116 from 67 currently over the next five years. The company will take delivery of 24 aircraft this year.

SINGAPORE -- PT Garuda Indonesia Wednesday said it plans to go public by mid-2010 and aims to raise US$300 million through a listing in Indonesia.

Garuda Chief Executive Emirsyah Satar said in a statement that airline is close to completing its debt restructuring.

The move to clean up the national carrier's balance sheet is aimed at giving its public offering a better chance at success following several previous failed attempts by the Indonesian government to offload its stake. Garuda said earlier this month that it has reached an agreement with investors to restructure notes that were due in 2007.

The proceeds from the initial public offering will be used to fund Garuda's "long-term growth plans," Mr. Satar said.

"We have yet to determine the underwriters [for the IPO]. The IPO will either be in late second quarter or early third quarter of this year," he added.

Garuda plans to increase its fleet size to 116 from 67 currently over the next five years. The company will take delivery of 24 aircraft this year.

The fleet size will be based mainly on Boeing 737-800s and Airbus A330-300/20s, which are operated on medium- and long-haul routes.

Mr. Satar said that Garuda has converted the 10 Boeing 787 jets it ordered two years ago into Boeing 777-300E aircraft as the Indonesian carrier wasn't willing to wait out the delays in the production of the 787 plane.

"The airline will introduce the 10 Boeing 777 on new ultra long-range flights starting 2011 as it expands its international network," he said.

Garuda also said it plans to add 10 domestic routes this year and start a daily non-stop service to Amsterdam June 1.

Besides, Amsterdam, the airline is also looking to fly other European destinations such as Frankfurt, Paris, London and Rome.

"This [new international series of routes] will be launched over the next few years," he said.

Mr. Satar said that Garuda is also planning to create a separate low-cost carrier by the end of this year to meet the growing demand of domestic and short-duration travel.

"We are in the process to get regulatory approvals to establish the entity," Mr. Satar said, adding that the low-cost carrier will operate a fleet of about 20 aircraft.

Garuda currently has a low-cost carrier subsidiary called Citilink.

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