JAKARTA, May 11 — Indonesia is drawing up a US$1.0 billion (RM4.32 billion) rescue plan for struggling national airline Garuda after the coronavirus forced the company to ground most of its planes, Bloomberg News reported today. Under the plan, some US$500 million in Garuda debt would be...
Garuda operates a fleet of more than 200 aircraft with its Citilink subsidiary. — Reuters pic
Under the plan, some US$500 million in Garuda debt would be restructured with another US$500 million in new loans to help the airline meet operational needs for the next six months, the report said, citing Deputy State-Owned Enterprises Minister Kartika Wirjoatmodjo.
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