Garuda to spin off aircraft maintenance unit

Indonesia’s flag carrier is spinning off its maintenance unit in what promises to be the country’s largest IPO this year.

Garuda to spin off aircraft maintenance unit

A fledgling equity sub-sector of the Asian aviation industry is on the verge of a growth spurt after Garuda Maintenance Facility AeroAsia launched an Indonesia initial public offering of Rp3.2 trillion $245 million on Tuesday.

The aircraft maintenance services subsidiary of flag carrier Garuda Indonesia intends to float 20% of its share capital in what could be the country's largest IPO since construction materials supplier Waskita Beton Precas was floated in...

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