Garuda Indonesia Getting US$ 1.85 Billion Equity Injection from Wealth Fund

GARUDA INDONESIA - JAKARTA. Flag carrier Garuda Indonesia said it is getting a $1.85 billion equity capital injection from its majority shareholder, sovereign wealth fund Danantara Indonesia.

The asset management arm of Danantara will inject $1.44 billion in cash while $405 million will be in the form of the wealth fund's loans converted into equity, Garuda said in a disclosure document.