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11-Jan-2010 11:55 AM

Garuda Indonesia to launch its IPO in 1Q2010

Indonesian Government stated Garuda Indonesia plans to launch its IPO in 1Q2010 (ANTARA News/The Jakarta Post, 09-Jan-2010). The carrier plans to sell 25% of its shares to raise approximately USD300 million, to fund new aircraft and enhance operations. Garuda is currently selecting underwriters for the offer. The carrier plans to order 50 aircraft to increase its fleet to 116 by 2014.