JAKARTA (Yosefardi) – PT Bank Internasional Indonesia (BII) Tbk (BNII) has provided syariah-based financing of US$100 million, equivalent Rp1.15 trillion, for flag carrier PT Garuda Indonesia Tbk (GIAA).
The loan has tenor of 4 years and carries interest of 4% plus LIBOR. BII targets its syariah business unit to contribute 10% growth this year, compared to 4% contribution last year.
While GIAA needs US$300 million for supporting its working capital this year as it targets to boost its capacity production by 15% this year. GIAA plans to add 27 new air crafts this year.