Publish Date : 2/21/2005 5:19:00 PM
Source : Travel News ExpressNewsline.com
The country's flag carrier Garuda Indonesia (GA) plans to lease four units of Boeing latest generation Boeing 737-NG aircraft this year.
Garuda President Indra Setiawan said the four aircraft will improve the competitiveness of the state-owned airline company in international and regional routes.
The aircraft will be leased from an international leasing company, Setiawan said without giving further details.
He said the company targets to chalk up Rp12 trillion (US$1.33 billion) in income this year up from Rp10 trillion in 2004.
With that income the company will be able to pay its annual installment of US$110 million, he said.
The company still has a debt of around US$827 million to be repaid until 2010.
Setiawan said Garuda wants to launch initial public offering (IPO) in 2006.
Photo © Paul Robbins