IATA wins 5-year contract from Badak NGL
Saturday, May 22 2010 - 01:28 AM WIB
Indonesia-listed firm PT Indonesia Air Transport (IATA) has won a five-year contract to lease its airplanes to East Kalimantan-based liquefied natural gas (LNG) producer PT Badak NGL, Media Indonesia reported Saturday.
IATA's president director Syafril Nasution said in Jakarta last week the company had allocated US$11 million in capital expenditures to increase its fleet in a bid to enable it meet new orders.
The funds will, among other things, be used to purchase a 50-seat ATR 42-500 airplane which would be leased to PT Badak NGL, he said.
In addition to Badak NGL, IATA is also negotiating short-term contracts from other oil companies including Salamander Energy Plc, ConocoPhillips, Chevron, and Primer Oil.
At present, it operates 16 airplanes comprising of 10-fixed wing aircraft (Fokker, Beechcraft, ATR4Z, BAC 1 and Falcon) and six helicopters. (*)