Citilink, Sriwijaya Air and Nam Air sign joint operation agreement

Garuda Indonesia Group plans to take over operational control of Sriwijaya Group under a joint operation agreement between Citilink, Sriwijaya Air and Nam Air signed on 09-Nov-2018 (ANTARA/Aviatren.com/BeritaSatu.com/Bisnis.com/Indo Aviation/Liputan6.com/Nikkei/Reuters/Tempo.co/Tribunnews.com, 14/15-Nov-2018). Garuda Indonesia CEO Askhara Danadiputra said the JV is "intended to help the Sriwijaya Air Group improve its operational and financial performance, including helping it to fulfil commitments or obligations to third parties, including those within the Garuda Indonesia Group". The agreement is expected to result in changes to Sriwijaya Group's management and Garuda Indonesia Group may develop the partnership by acquiring shares in Sriwijaya Group. As previously reported by CAPA, Garuda Indonesia Group and Sriwijaya Group entered codeshare and special prorate agreements in May-2018. [more - CAPA Analysis]