Indonesia`s Rajawali to establish airline in Cambodia

November 27th, 2007

Jakarta (ANTARA News/Asia Pulse) - Indonesia’s Rajawali Group and PT Ancora Internasional, in cooperation with the Cambodian government, will establish a Cambodian flag carrier, based on a memorandum of understanding signed in Phnom Penh last week.

Rajawali and Ancora will have 49 per cent of the shares and the Cambodian government would hold majority shares of 51 per cent, Rajawali managing director Darjoto Setyawan said.