Indonesian budget airline plans IPO next year

JAKARTA, Feb 25 (AFP): Indonesian airline Lion Air is to sell around a third of the company through an initial public offering in the first half of 2012 to raise $1 billion, the company said Friday. "We plan to only sell a 30 per cent stake of our company to the public," Lion Air President Director Rusdi Kirana told journalists. He said the proceeds would be used to strengthen the company's capital structure, but he did not elaborate.