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IATA subsidiary obtains aircraft operator certificate

24 December 2021 11:06

JAKARTA - Continuing the plan of PT Indonesia Transport & Infrastructure Tbk (IATA) to turn its main business into an investment company, where the investment will be in business units, each of which will undertake mining, infrastructure and air transportation businesses.

To support the planned change in business activities, one of IATA's subsidiaries, namely PT Indonesia Air Transport (IAT) has obtained the Aircraft Operator Certificate from the Ministry of Transportation, Directorate General of Civil Aviation. The union stated that IAT is authorized to operate commercial air transportation in accordance with the operating instructions and the applicable Civil Aviation Safety Regulations.

By obtaining this license, IATA is one step ahead in realizing its plan to turn its main business into an investment company.

The Company plans to hold an Extraordinary General Meeting of Shareholders on January 20, 2022 asking for the approval of the Shareholders for various corporate actions, including:

1. Plan to change the Company's main business activities

2. Plan to transfer the Company's assets to IAT, a 99.99% owned subsidiary

3. Plan to take over 99.33% stake of PT Bhakti Coal Resources (BCR) from PT MNC Investama Tbk (BHIT)

The planned acquisition of BCR by IATA is believed to have a positive impact and added value for IATA's shareholders. Currently, all related processes are running according to schedule in order to meet the acquisition completion target in first half of 2022. (LM)

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