Air BP, AKR sign JV agreement in Indonesia

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.