It said it will start taking delivery of the Boeing 787s in 2011-2013 and the Boeing 737s in 2006.
Airlines have come under pressure from soaring world oil prices with Garuda hurt further by tighter international competition and the emergence of local low-cost carriers.
Garuda said the leasing agreement is a follow-up to a 1996 deal with Boeing for the operation of the Boeing 777-ER (Extended Range) series. Today's agreement was signed in New York, it said.
Garuda said it now operates a fleet of 57 aircraft, which includes six Airbus 330s.
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