Garuda gets 4 bids for budget carrier Citilink

[SINGAPORE] PT Garuda Indonesia has bids from four companies to purchase a stake in its low-fare unit Citilink as the national airline seeks a partner to expand amid a boom in air travel.

Garuda expects to take a decision on the strategic partner by June, chief executive officer Emirsyah Satar said in an interview in Singapore on Tuesday. The Jakarta-based company said on Monday it's planning an initial public offering for Citilink. Mr Satar declined to name the four bidders.

Getting a strategic partner and raising funds will help Garuda compete with PT Lion Mentari Airlines in a market where passenger numbers are expected to increase as much as 20 per cent this year. From Indonesia to Vietnam to Myanmar, carriers in South-east Asia are also buying aircraft as about 600 million people - as many as the combined population of the US, Germany and Brazil - fly more.