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.
Garuda is Indonesia's only top-class airline, having a four-star review from Skytrax. The airline announced an aggressive expansion plan labeled 'Quantum Leap' in 2009. Please visit its company profile for a detailed report about Garuda.