Danantara, MIM and SMBC to establish Indonesia’s first aviation financing investment platform
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Background ✨
Garuda Indonesia confirmed it received a USD1.4 billion capital injection from Danantara Indonesia, down USD400 million from an earlier figure, and said the revised use of funds no longer included fleet expansion1. Garuda Indonesia deputy director Thomas Oentoro said Citilink was allocated 63% of the USD1.4 billion, with 47% earmarked for working capital such as aircraft maintenance and repair, and the balance used to settle fuel debts with Pertamina Aviation2. SMBC Aviation Capital previously finalised a five year USD1.5 billion global syndicated finance facility comprising a USD375 million term loan and a USD1.125 billion revolving credit facility3.