PT Garuda Indonesia (GIAA) is considered bids from four companies to purchase a stake in its low-fare unit Citilink. The carrier expects to take a decision on the strategic partner by June, confirmed Chief Executive Officer Emirsyah Satar.
The carrier confirmed yesterday that it’s planning an initial public offering for Citilink.
“The budget market is growing quite fast in Indonesia,” Satar told Bloomberg. “We feel we need a partner who is really experienced in terms of driving the low-cost carrier.”