Bisnis.com, JAKARTA — State-owned airline PT Garuda Indonesia (GIAA) has received a $405 million (approximately IDR 6.65 trillion) injection from Indonesia’s sovereign wealth fund Danantara after the airliner long struggled to bounce back from the red.
Garuda Indonesia reached out to Danantara back on May 21, and the latter then responded with the fresh funds on Tuesday (24/6) as the initial part of a broader financing package aimed to reach $1 billion.