JAKARTA (Yosefardi) – Flag carrier PT Garuda Indonesia Tbk (GIAA) plans to launch rights issue in first quarter of 2014, targets to raise Rp2 trillion funds.
It sets capex of Rp4 trillion for next year, partly to purchase new aircraft. The company also has options to raise funds through bond issue and bank loan.
In early this month, GIAA has obtained syndicated loan of US$200 million with tenor of three years.
Garuda booked revenue of US$2.69 billion in first nine months of this year, grew by 12%. Operating expenses however also increased by 15% to US$2.66 billion, mostly due to higher cost of flight operations, including fuels.