Skip to content
General

Air BP, AKR sign JV agreement in Indonesia

By Minjun ParkIndonesia
1 min read
Air BP
Air BP
In this article (4)

Air BP, the international aviation fuel products and services supplier, and AKR, an Indonesian distributor of chemicals, petroleum, logistics and supply chain solutions, have announced the signing of a JV agreement. The agreement was signed in London by Mr Jonathan Wood, Chief Strategy and Business Development Officer, Air BP, and Mr Haryanto Adikoesoemo, President Director of AKR.

The JV company, PT Dirgantara PetroIndo Raya, will operate under the name of Air BP-AKR Aviation, with the remit to develop an aviation fuel business in Indonesia.

Indonesia is one of the world’s fastest growing aviation markets where domestic travel is projected to grow by an average of 15% per year, reaching 180 million passengers in 2021. The market is being driven by the strong economy with a growing middle class, an archipelago geography and increased tourism. Indonesia is now the world’s fifth largest domestic market, behind only the US, China, Japan and Brazil.

“Air BP sees a great future for aviation in Indonesia and is pleased to be involved in this market and contribute to its future development and success,” said Wood.

Questions & Answers

Q.

What is the primary purpose of the new joint venture company?

A.

The joint venture company, PT Dirgantara PetroIndo Raya, operating as Air BP-AKR Aviation, has the remit to develop an aviation fuel business within Indonesia. It aims to capitalise on the rapidly growing aviation market there.

Q.

Who signed the joint venture agreement on behalf of each company?

A.

Mr Jonathan Wood, Chief Strategy and Business Development Officer for Air BP, signed the agreement for Air BP. Mr Haryanto Adikoesoemo, President Director, signed on behalf of AKR.

Q.

What factors are driving the growth of the Indonesian aviation market?

A.

Growth in Indonesia's aviation market is being driven by a strong economy, an expanding middle class, the country's archipelago geography, and an increase in tourism. This contributes to significant domestic travel projections.

Reader pulse

Is this JV a smart move for Air BP and AKR?

21,271 votes so far

Weekly Briefing

Asia's retail intelligence, in your inbox

Monday, Wednesday and a Friday Weekly Wrap: the retail stories, numbers and moves that mattered across Asia. Nothing else, and you can unsubscribe in one click.

  • Top industry moves and market shifts
  • Weekly data-driven analysis from across Asia
  • Monday, Wednesday and the Friday Weekly Wrap

Read by retail operators, investors and brand teams across Asia.

Protected by a quick human check. No spam, ever. Unsubscribe in one click.

SecureGDPR ready