via CAAI News Media
The Cambodian government has signed an agreement with Indonesian companies last Friday which will see the development of a Cambodian national airline called the National Flag Carrier.
PR Log (Press Release) – Mar 26, 2010 – The Cambodian government has signed an agreement with Indonesian companies last Friday which will see the development of a Cambodian national airline called the National Flag Carrier.
Petter Sondakh, the CEO for Rajawali Group, has stated that the company invested in Cambodia because of the tourism boom the country is currently experiencing. "Today we signed the MOU to establish the National Flag Carrier with PT Rajawali Group and PT Ancora International company, which are joint ventures from Indonesia," Cambodian Deputy Prime Minister Sok An told reporters after signing the memorandum of understanding in Phnom Penh. "This is our pride and victory that we have had our own national airline." The new carrier is expected to commence operations in six months, with Sok An revealing that the Cambodian government will hold a 51 percent stake in the airline and will receive 30 per cent of the profits.
The airline’s board chairman will be appointed by the Cambodian government and the General Manager and CEO will be selected by the investing companies, added Sok An.
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