Kertajati Airport on track to launch operations in May
Given the construction progress to date, airport developer PT Bandara Internasional Jawa Barat (BIJB) is positive that operations at Kertajati Airport in West Java can begin in May, followed by haj pilgrimage flights in July. BIJB president director Virda Dimas Ekaputra said that, as of Feb 5, the construction progress on the landside has reached 87.9%, with completion scheduled for March. In the initial phase of its operation, the airport will be able to welcome between 5m and 11m passengers annually. PT Angkasa Pura II (AP II) recently acquired 20% of the shares in BIJB, a company controlled by the province of West Java. Combined with the operational cost, the investment for Kertajati Airport will reach about Rp2.6tr. So far, BIJB has relied on capital injections from the West Java government and civil servant cooperatives, among others, amounting to Rp1.8tr. It has relied on its own cash to cover the construction cost gap. The company is slated to obtain another Rp930bn from private equity funds and the stake purchase by APII, which are equal to 18% and 20% of the former’s ownership, respectively. Financial closure on both deals is expected in March.