Garuda Indonesia Plans Expansion through Rights Issue in Semester II-2013
State-controlled airline Garuda Indonesia plans to raise capital through a rights issue in semester II of this year. Funds assembled through this issue will be used to expand the company's fleet. In 2011, Garuda issued 30 percent of its shares on the Indonesia Stock Exchange (IHSG) although the House of Representatives (DPR) had in fact approved up to 40 percent. The remaining 10 percent will thus be sold this year.