Garuda Said in Talks for $500 Million From Indonesia Wealth Fund
The 76-year-old airline is a major employer and a key mode of transport for Indonesia.
Photographer: Dimas Ardian/BloombergPT Garuda Indonesia is in talks with the country’s sovereign wealth fund Danantara about an injection of around $500 million, according to people familiar with the matter, as the struggling national carrier looks to turn its business around.
An agreement could be reached as soon as June or July and would be part of an initial stage of funding that may be done in two parts to help the carrier right its finances, said the people, who asked not to be identified because the information is private.