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Garuda Indonesia seals financing and revenue-sharing deal to fund fleet expansion
September 20th 2022
Garuda Indonesia has signed a partnership agreement with asset management company, Perusahaan Pengelolaan Asset (PPA), to support rebuilding of the airline's fleet. Read More » In a regulatory filing to Indonesia's IDX stock exchange, the flag carrier said the partnership offered financing facilities to the value of 725 billion rupiah (US$50 million) and revenue sharing for five years on routes including Jakarta-Surabaya, Jakarta-Makassar and Jakarta-Jayapura. Earlier this month, Garuda said its fleet will increase from around 33 aircraft at present to 60 at year-end and to 96 by 2026. The announcement follows the signing of a Memorandum of Understanding by the two parties in August.
