JAKARTA (Yosefardi) – Shares of PT Indonesia Air Transport Tbk (IATA), air transport service provider, surged 12% this morning with 20.68 million shares exchanged hands.
The stock had fallen 36% from its peak year to date.
As a commercial chartered flight and scheduled flight, IATA provides a wide variety of quality aviation services to oil, gas, and mining industry in remote areas.
The company allocate capital expenditure (capex) of US$15 million for this year. It targets regular flight business segment will contribute revenues of Rp734.7 billion this year, or 66% of this year revenues target.