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Garuda : No Thanks Linus Airways and Star Air
By admin
Sunday, July 19, 2009 12:00:00 Clicks: 1100 Send to a friend Print Version
Garuda : No Thanks Linus Airways and Star Air

Lion Airways and Star Air No Longer Attractive as Acquisition Targets for Garuda Indonesia.

(7/19/2009) Garuda Indonesia has abandoned plans to acquire either Linus Airways or Star Air following the formal revocation on July 26, 2008, of the operating licenses of the two air carriers by the Indonesian Department of Civil Aviation.

The CEO of Garuda Indonesia, Emirsyah Satar, said any thoughts of acquiring Linus Airways disapeared when that airline's route permits were recently yanked by the government. Emirsyah commented: Linus acquisition is cancelled. Their licenses are revoked, why would Garuda want to acquire them?

According to Bisnis Indonesia, Garuda was considering a 100% purchase of the shares of Linus or Star Air as a means to pave the way for a fast track acquisition of needed operating permits and licenses for Garuda's low-cost subsidiary Citilink.

Source: Bali Discovery Tours
http://www.balidiscovery.com
 
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