An Australian firm has acquired 49 per cent of Paradise International, which stopped operating following the second Bali bombing in October, 2005.
Air Paradise provided international flights on Bali - Australia and Bali-South Korea routes, using Airbus - A-300 and A-600 aircraft.
Air Transport Director at the Transport Ministry Santoso Edi Wibowo said the acquisition is in line with the regulation, which sets maximum limit of 49 per cent for foreign ownership of an Indonesian airline.
Santoso, which refused to disclose the name of the Australian company, said the government hopes Air Paradise, which is based in Ngurah Rai, Bali, will continue to provide international flights.
The Bali bombing resulted in a sharp decline in the number of air passengers, especially tourists from Australia to Bali, forcing Air Paradise to suspend operations.