JAKARTA (REUTERS) - Indonesian carrier Lion Air is likely to delay its planned initial public offering (IPO) from the first quarter of 2016 due to weak market conditions, Lion Group's chief executive told Reuters on Thursday.

But the privately held airline still hopes to raise around 10 trillion rupiah (S$1.007 billion) from the IPO, Rusdi Kirana said over the telephone. He did not disclose a new timeline.

The company had intended to use part of the proceeds from the planned IPO for its expansion in the airports sector, Mr Kirana said in Paris last year.

(More to come)