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Distressed Garuda Indonesia to tap Danantara in $1.85bn rescue package

The Indonesian sovereign wealth fund's rescue package includes a $1.44bn cash injection with a $405m debt-to-equity swap to stabilise the national airline.
Distressed Garuda Indonesia to tap Danantara in $1.85bn rescue package

Indonesia’s national carrier Garuda expects to secure a $1.85 billion lifeline from domestic sovereign wealth fund Danantara, its majority shareholder, the airline said in a stock exchange filing Tuesday.

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