Monday, March 17, 2008

Good Bye AdamAir

Tycoon Hary Tanoesoedibjo-through PT Global Transport Services (GTS) and PT Bright Star Perkasa (BPS), subsidiaries and affiliates of PT Bhakti Investama Tbk-are going to withdraw his 50% stake in PT Adam SkyConnection Airlines (AdamAir).

Bhakti Investama, through GTS and BPS, acquired a 50% stake in AdamAir on April 12, 2007. GTS controls a 19% stake, while PT Bright Star Perkasa controls a 31% stake.

The airline should be tightly monitored by the Directorate General of Air Transportation after several serious incidents and accidents of the airplanes.

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