Indonesia lawmakers backs $522 mln capital top-up for airline Garuda

posted on 22nd April 2022 by Eddie Saunders
Indonesia lawmakers backs $522 mln capital top-up for airline Garuda

By Stefanno SulaimanReuters News

Indonesian lawmakers on Friday approved the government’s plan to top up Garuda Indonesia’s capital by 7.5 trillion rupiah ($522.43 million) this year, once the carrier reaches a debt settlement with creditors, a government official said.

The approval was decided by a group of lawmakers tasked to deliberate on the government’s strategy to save the debt-laden airline, said an aide to Arya Sinulingga, the state-owned enterprises minister.

A wider vote is typically needed to finalise the decision.

($1 = 14,356.0000 rupiah)

(Reporting by Stefanno Sulaiman; Writing by Gayatri Suroyo; Editing by Martin Petty)