As it had been realized, there are several megatrends influenced PT Pelita Air Service (Pelita) business orientation due to market changing in the industry:

1. From Captive Market to Competition, 2. From Production to Marketing,

3. From Price Margin to Value Added, 4. From Bureaucratic to Intra Preneur,

5. From Narrow on Mission (e.g. Charter Flight) to Balance and Efficient, 6. From Full Authority to Shared Responsibility, 7. From Internal Funding to External Funding,

Among any Indonesian airlines companies, PT. Pelita Air Service (Pelita) has gained core competence through its chartered flight services, established from captive market of inter company transaction and long term flight contract with many big foreign oil and gas companies. This core competence contributed some competitive advantages, such as; luxury of US Dollar revenue and reliable future cash flows. The assessment on financial position also indicated Pelita as a very liquid and solvent company.

Analysis of evaluation in this paper is founded on basic philosophy of optimalization the Asset Revitalization to support Pelita business expansion in scheduled flight services. We are trying to provide Pelita with fund raising alternative other than just debt or equity. Therefore, Pelita would not need to cash in its Current Assets, but instead, Pelita could continue gaining non-operating income from its investment portfolio instruments.

This paper divided into 7 Modules, on which each of them may construe it is on conclusion remark based on statistical analysis and academic theoretical frameworks.



Research Location: PT Pelita Air Service

Supervisor: Ror Sembel, PhD.

Accepted : January 2001



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