Garuda Indonesia seeks to acquire additional 66% stake in GMF AeroAsia
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Background ✨
Garuda planned operational and subsidiary optimisation across Citilink, GMF AeroAsia and Aerowisata to drive efficiency and profitability, while also prioritising equity and capital structure strengthening to restore a healthy balance sheet.1 It also planned to seek shareholder approval on 12-Nov-2025 for about USD1.44 billion from Danantara Asset Management via private placement, alongside converting a USD405 million Danantara loan into shares.1 2