Saturday, November 27, 2010

Riau Airlines Gets Rp15 Billion Capital Injection

Saturday, November 27, 2010

Pekanbaru, Riau, Riau Airlines has been allocated a capital injection of Rp15 billion from the Riau regional budget for 2011, a provincial councilor said.

"Of the Rp70 billion of funds allocated through the regional budget for a number of regional government-owned firms (BUMD), the Riau Airlines gets Rp15 billion," Chairman of Riau`s Regional Legislative Assembly (DPRD) Djohar Firdaus, said here on Friday.

He said that the injection of Rp15 billion was in the form of additional capital participation of the Riau regional government in the airlines.

The injection of the additional capital reinforced the local government`s position as the majority shareholder of 20 other shareholders who came from various regional governments in Sumatra.

Up to the end of December 2009, the Riau regional government controlled 50.6 percent of the Riau Airlines, or it has invested a capital worth Rp67.2 billion with the company.


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