PT. Bayu Buana Tbk has formed a joint venture company with Apple Holidays Pvt Ltd. The new joint venture aims to tap the growing Indian market to Indonesia, because the number of arrivals from India to Indonesia has been growing significantly. The arrivals from India between January 2019 and June 2019 were 188,095. Some 55% of the Indian arrivals are to Bali. Bayu Buana will own a 51% stake and Apple Holidays will own a 49% stake in Bayu Apple Holidays, the new Bali-based joint venture company which is trading as Apple Holidays Indonesia. Meanwhile, Bayu Buana aims to acquire around 50% shares of Apple Holidays, which is currently in the process of moving its headquarters to Singapore.