State-owned Indonesian Aerospace has appealed to the country’s finance sector to help fund the commercial development of its N219 turboprop.
The company, also known as PTDI, notes that there is a strong requirement in the country for the 19-seater, but funding to “commercialise” the aircraft is lacking. It also sees a potential international market for the type.
PTDI highlighted the programme’s financing challenges at a seminar in Jakarta. Government officials as well as financial institutions attended the event.
“With the involvement of financial institutions, it is hoped that they can accelerate the business process of selling the N219 aircraft and bridge the gap between PTDI’s position as a producer and customers and operators as users,” says the company’s president director Elfien Goentoro.
“Hopefully this activity can formulate financing schemes for the purchase of N219 aircraft, so that the target for commercialisation of the N219 aircraft at least 25% in the world market can be achieved.”
The aircraft, powered by two Pratt & Whitney Canada PT6A engines, received certification in December 2020. The N219 is intended to serve remote, undeveloped parts of the sprawling Indonesian archipelago.
Cirium fleets data indicates that only two N219s have been built, both of which are prototypes in service with the manufacturer.
The aircraft appears to have no firm orders, and only 77 letters of intent. Of these, 50 are from Aviastar Mandiri, a small carrier with an in-service fleet of five Viking Air Twin Otters and a single Bell 429.
The remaining LOIs are with Trigana Air (15), charter carrier Air Born (8), and the Aceh government (4).