The Business Times

Garuda Indonesia

ASEAN Business

Garuda Indonesia appoints new CEO Glenny Kairupan

Garuda has struggled financially since the Covid-19 pandemic that effectively halted air travel.
ASEAN Business

Distressed Garuda to tap Indonesian state fund for US$1.4 billion

The struggling Indonesian airline is paying around US$400,000 per month for the 737 Max 8 it has leased from BOC Aviation.
Transport & Logistics

Garuda new 737 plane’s higher rent may strain finances further

The airline is already having trouble keeping its existing fleet airworthy, with at least 15 jets grounded as recently as May, as it struggles to make maintenance payments.
ASEAN Business

Trump’s trade deal pushes Garuda to learn to love 737 Max again

State-controlled Garuda booked a net loss in 2024 after two years of profit following a post-pandemic travel boom
ASEAN Business

Indonesia’s sovereign wealth fund Danantara loans US$405 million to flag carrier Garuda

At least 15 of its jets are grounded because it’s struggling to make maintenance payments.
Transport & Logistics

Indonesia’s wealth fund in talks to aid flagship airline Garuda

Citilink is an important unit for Garuda, which is facing intensifying competition in its home market from rivals such as Lion Air and AirAsia Indonesia.
ASEAN Business

Garuda set to replace head of low cost unit in push for recovery

Irfan Setiaputra, who served as Garuda CEO for more than four years, said that he accepted the decision professionally and was grateful for the trust that had been given to him.
ASEAN Business

State carrier Garuda Indonesia appoints new CEO

Despite the almost US$10 billion debt restructuring in 2022 that saw its fleet shrink from about 210 aircraft, Garuda is still struggling to generate a profit amid increased competition with privately-held Lion Mentari Airlines.
ASEAN Business

Indonesia weighs switching Garuda CEO as part of turnaround plan

SIA first announced plans to enter into a joint venture with Garuda Indonesia in May 2023.
Companies & Markets

Singapore Airlines and Garuda Indonesia receive approval for joint venture

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