Garuda gets shareholders’ nod for Rp8.5t government funding
Garuda Indonesia’s shareholders have overwhelmingly approved the sale of convertible bonds — worth up to Rp8.5t ($602m) — giving the struggling carrier a much-needed financial lifeline to tide through the coronavirus crisis. At an extraordinary general meeting on 20 November, the move garnered 99.94% approval from shareholders, paving the way for the Indonesian government to purchase the bonds through investment arm Sarana Multi Infrastruktur. The Indonesian government currently owns 60.5% of the carrier. With the additional funding, it will see its shareholding increase to 84.8%. Garuda’s president director Irfan Setiaputra says the carrier is “optimistic” the move will strengthen liquidity and improve its financial situation. “Thus, Garuda Indonesia can continue to maximise its strategic role as a national flag carrier,” he adds.<br/>
https://portal.staralliance.com/imagelibrary/news/hot-topics/2020-11-23/sky/garuda-gets-shareholders2019-nod-for-rp8-5t-government-funding
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Garuda gets shareholders’ nod for Rp8.5t government funding
Garuda Indonesia’s shareholders have overwhelmingly approved the sale of convertible bonds — worth up to Rp8.5t ($602m) — giving the struggling carrier a much-needed financial lifeline to tide through the coronavirus crisis. At an extraordinary general meeting on 20 November, the move garnered 99.94% approval from shareholders, paving the way for the Indonesian government to purchase the bonds through investment arm Sarana Multi Infrastruktur. The Indonesian government currently owns 60.5% of the carrier. With the additional funding, it will see its shareholding increase to 84.8%. Garuda’s president director Irfan Setiaputra says the carrier is “optimistic” the move will strengthen liquidity and improve its financial situation. “Thus, Garuda Indonesia can continue to maximise its strategic role as a national flag carrier,” he adds.<br/>
