Jakarta - PT Indonesia Transport and Infrastructure Tbk officially changed its name to PT MNC Energy Investments Tbk (IATA) after acquiring PT Bhakti Coal Resources (BCR) from PT MNC Investama Tbk (BHIT).

In addition, IATA also changed its main business activities from a commercial air transport company and an air transportation service company to an investment sector and holding company, particularly in the coal mining sector.

"This change was made to mitigate losses due to the COVID-19 pandemic," said IATA Corporate Secretary Andi Tenri Dala Fajar in information disclosure in Jakarta on Friday (11/2).

He explained IATA recorded operating revenues of US$7.2 million as of September 2021, up 15% compared to the same period the previous year of US$6.3 million.

"However, this increase was followed by an increase in various operating expenses, which resulted in a net loss of US$4.7 million as of September 2021, up 118% compared to a