JAKARTA (Yosefardi) – Flag carrier PT Garuda Indonesia Tbk (GIAA) has secured loan of US$1.7 billion from Industrial and Commercial Bank of China (ICBC) Limited.
Indonesia and China companies have signed cooperation in 21 projects worth more than US$30 billion on Thursday (Oct 3).
ICBC provides loan to Garuda under sale and lease back scheme for 5 Boeing 777-300ER aircrafts for Garuda and 6 Airbus A320 aircrafts for Citilink.
The loan has tenor of 10-12 years. The project location is Eastern of Indonesia.
Garuda booked revenue of Rp3.68 trillion in first half of this year and ebitda of Rp315.37 billion.