Lion Air aims to bost global presence

Xinhua reports Wednesday that Lion Air is preparing funds to acquire shares in airlines in six Asian countries to boost its global presence. Lion Air will buy stakes in airlines in Thailand, Vietnam, Malaysia, the Philippines, Bangladesh and South Korea at the amount permitted under their respective laws. “We have been collecting funds from internal and external sources. The budget ranges from US$50m to $100m per airline,” Lion Air spokesman Hasyim Alhabsi said. He said the regional expansion was the consequence of the purchase of 120 Boeing 737-900ERs for deliveries in the next five years. The acquired airline will bear the company’s name, so will become Vietnam Lion Air or Thai Lion Air, he said.

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