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December 04, 2023

BBN Airlines Indonesia Receives US$6,2 Million Funding

Jakarta, December 4, 2023 - BBN Airlines Indonesia has secured a funding of US$6,2 million (equivalent to IDR 96.1 billion*) from its parent company, Avia Solutions Group. This substantial investment reflects Avia Solutions Group's strong confidence in the airline's success and growth potential, having been actively operating in the country since 2022, adding the company value to US$14 million (equivalent to IDR 217 billion*).

BBN Airlines Indonesia intends to allocate the received funding strategically, directing it toward business development initiatives, fleet expansion, and strengthening essential operational needs.

According to the airline's notable achievements, in August 2023, BBN Airlines Indonesia successfully obtained the Air Operator Certificate (AOC). Subsequently, in November 2023, the company tripled its fleet, by adding four new aircraft, including one Boeing 737-400SF and three Boeing 737-800NG.

Martynas Grigas, Chairman of BBN Airlines Indonesia, says, “We are grateful for the investment and confidence shown by Avia Solutions Group in BBN Airlines Indonesia. With this support, BBN Airlines Indonesia is poised to execute the company's strategic plan to operate a fleet of 40 aircraft by the end of 2027. We hope our outlined initiatives will further strengthen Indonesia's aviation sector, both in domestic and international markets.”

“We are committed to delivering more diverse and high-quality services to the aviation industry in Indonesia. Moving forward, we also plan to expand our services to the commercial flight segments,” explained Martynas.

In one of its statements, the Indonesia National Air Carriers Association (INACA) highlights the significant potential of Indonesia's aviation sector and its support for the participation of foreign investors in aircraft financing in the country. The government's consistency in ensuring certainty of the international financial market is also appealing to investors, supported by the steps taken to ratify the Cape Town Convention, promising developments in the country's aviation market.

“We hope that this funding will not only mark a significant milestone for BBN Airlines Indonesia but also make a real contribution to driving our aviation sector. With a steadfast commitment to business development, excellence in service, and a vision to be an innovative service provider, we are ready to be the reliable partner and catalyst for the aviation industry in Indonesia,” concluded Martynas.

*USD1 = IDR15,500

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