JAKARTA -- Shareholders of Garuda Indonesia, the country's flagship carrier, on Friday approved the issuance of bonds to a maximum amount of 8.5 trillion rupiah ($600 million) in a bid to save the company, badly struggling from the coronavirus pandemic.
Transportation
Garuda to get $600m rescue via bond sale to Indonesia government
Shareholders approve plan of beefing up state control of struggling airline
A Garuda Indonesia Boeing 737-800 at a maintenance facility at Soekarno-Hatta airport near Jakarta in January. The company will issue bonds to be bought by the government to help it ride out the coronavirus pandemic. © Reuters
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