
Loan to bolster operations of flag carrier amid recovery efforts
Garuda Indonesia, the country’s flag carrier, has secured a $408 million loan from investment firm Danantara in a strategic financial boost aimed at supporting its post-pandemic recovery.
The deal comes as part of efforts to strengthen the airline’s balance sheet and operational capacity following years of financial turbulence.
Garuda plans to use the funding to stabilize cash flow, expand service routes, and improve its fleet.
The deal comes as part of efforts to strengthen the airline’s balance sheet and operational capacity following years of financial turbulence.
Garuda plans to use the funding to stabilize cash flow, expand service routes, and improve its fleet.