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  • PT Angkasa Pura II Sets Capex IDR 1.4 Trillion Amid the Pandemic COVID-19, Airport Development with Strategic Partners Chased

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Latest news about PT Angkasa Pura II (Persero)

PT Angkasa Pura II Sets Capex IDR 1.4 Trillion Amid the Pandemic COVID-19, Airport Development with Strategic Partners Chased

04 May 2020

Jakarta - PT Angkasa Pura II (Persero) has set the latest capital expenditure (capex) this year to be Rp1.4 trillion, which comes from the company's internal cash.
 
Capex's budget allocation is in line with the company's direction and strategy which is now focused on maintaining the company's stability and business performance amid the global pandemic COVID-19.
 
As for earlier, at the beginning of this year when the company's direction and strategy was Growth, the capital expenditure prepared was around Rp 7.8 trillion.
 
PT Angkasa Pura II President Director Muhammad Awaluddin said this year's capex was allocated for a number of multi-year airport development projects, then maintenance of facilities to ensure security, safety, service, compliance with regulations, and continue the formulation of Terminal 4 of Soekarno-Hatta International Airport.
 
"A number of multi-year development projects will continue to run this year, for example the construction of commercial areas, offices and hotels, namely the integrated building at Soekarno-Hatta Airport. The design of the Soekarno-Hatta Terminal 4 design is also continued and is targeted to be complete by 2021 so that a groundbreaking can be carried out in January 2022. "
 
Aside from the IDR1.4 trillion capital expenditure originating from internal cash, this year PT Angkasa Pura II is also pursuing the development of airports through strategic partnerships with strategic partners.
 
"In this situation and condition, we are also pursuing the development of the airport together with strategic partners so that we can share capital expenditure and allow development plans to continue," said Muhammad Awaluddin.
 
One example of developing an airport with a strategic partner is at Kualanamu Airport, Deli Serdang. At present, PT Angkasa Pura II is still conducting intensive discussions with a number of prospective strategic partners.
 
"Through this joint financing project with this strategic partner, PT Angkasa Pura II and strategic partners will share the burden and risk with the main objective of maintaining the competitiveness of the national transportation sector," said Muhammad Awaluddin.
 
This year it is also planned that the company's inorganic business development will continue, including to develop the company's portfolio, acquisition of new airports and remain consistent to enter adjacent businesses.
 
This year, PT Angkasa Pura II airports have made various cost savings to be able to operate optimally to maintain air transportation connectivity amid the global pandemic COVID-19.
 
Savings were made on airport operational costs, maintenance costs for non-priority facilities, and capital expenditure (capex) restrictions.