Indonesian Budget carrier, Lion Air is preparing to list the company in the local share market to raise up to $1 billion with an initial public offering (IPO), in the first quarter of 2020.
The budget carrier, which delayed the IPO offering after last year’s crash before making the decision of raising capital.
Initial Public Offering of Lion Air, could rank as one of the biggest floats in Indonesia.
Lion Air, is an Indonesian low-cost airline. Based in Jakarta, is the country’s largest privately run airline, the second largest low-cost airline in Southeast Asia after AirAsia and the largest airline of Indonesia.
The airline operates domestic as well as international routes, which connects different destinations of Indonesia to Singapore, the Philippines, Malaysia, Thailand, Australia, India, Japan and Saudi Arabia, as well as charter routes to China, Hong Kong, South Korea and Macau, with more than 630 flights per day.
Airline which was founded 20 years ago, has grown into one of Asia’s largest budget carriers with about 117 planes.