Sriwijaya Air eyes 1Q2017 IPO; trio of B777s

Sriwijaya Air (SJ, Jakarta Soekarno-Hatta) is planning to hold an IPO in March next year owner and group chief executive Chandra Lie has said.

According to Reuters, while Lie did not disclose the size of the planned share sale, he did confirm that financial institutions/underwriters have already been chosen.

Sriwijaya Air has ordered three B777-200s for use on Hajj charter flights. Vice director of finance Lukcimo Jahjato told Reuters the widebody jets would arrive next year and would be used to ferry Indonesian haj pilgrims to Saudi Arabia.

Founded in 2003, Sriwijaya Air operates an all-Boeing (BOE, Chicago O'Hare) fleet of ten B737-300s, ten B737-500s, eighteen B737-800s, and two B737-900(ER)s on scheduled passenger flights to thirty-four destinations across Indonesia, Malaysia, and East Timor. Its NAM Air (IN, Jakarta Soekarno-Hatta) unit operates seven B737-500s and one Fokker 70 wet-leased from TransNusa (8B, Denpasar) on passenger flights primarily focused on Indonesia.

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