Çelebi enters the Indonesian aviation market

Çelebi

In line with its strategic growth program, Çelebi Hava Servisi acquired all of the shares of PT. Prathita Titiannusantara (“PTN”) operating in Indonesia from Dana Pensiun Merpati Nusantara Airlines (“DPMNA”) and Koperasi Karyawan Pratitha Titiannusantara (“KKPT”), two existing shareholders.

The Company’s statement on the Public Disclosure Platform is as follows;

“In line with the strategic growth plans of our Company, the Board of Directors of our Company has approved the acquisition of PT. Prathita Titiannusantara (“PTN”), based in Jakarta, Indonesia, by acquiring all (100%) of the shares of Dana Pensiun Merpati Nusantara Airlines (“DPMNA”) and Koperasi Karyawan Pratitha Titiannusantara (“KKPT”) for IDR 35 billion (approximately EUR 2.06 million) and the SPA was signed on 23.12.2023.

In the event that the conditions defined in the SPA are met, it is envisaged that the share transfer transactions will be completed by 30.03.2024 at the latest and it is planned that the shares of PTN will be taken over by our Company or one or more subsidiaries that will be established by that date.

PTN provides ground handling services at airports in 26 cities in Indonesia and the flight traffic in these cities provides access to 76% of the total Indonesian aviation market (market size 2023: 650 thousand flights). The Indonesian aviation market is projected to grow by an average of 7% per annum over the next 5 years.

PTN’s average annual revenue over the next 5 years is expected to be EUR 14 million (2028: EUR 25 million) and total equipment investment over 5 years is expected to be approximately EUR 27 million.

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