Fri, 25 Jan 2008
JAKARTA (JP): Publicly listed chartered airline company PT Indonesia Air Transport is upbeat about business prospects in the country, amid an intensified drive by the government to boost oil production.

President director Roekman Prawirasastra said Thursday that because most of the industry's clients were oil and gas companies, the government's campaign to boost investment and exploration in the oil and gas sector boded well for the chartered flight business.

Roekman was speaking after the signing ceremony for a US$50 million leasing contract with a consortium of three oil and gas companies.

"The consortium of ConocoPhilips, Star Energy and Premier Oil has agreed to rent three helicopters, type EC155B1, for the next five years, which will operate on their exploration sites in West Natuna," he said.

The company owns 22 airplanes that are available for charter.

"We are optimistic that we can increase revenue to up to Rp 240 billion this year," Roekman said, adding that the company booked total revenue of Rp 219 billion (US$23.3 million) and a net profit of Rp 4.4 billion in 2007. (Agustina Wayansari)



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