Indonesia’s flag carrier is spinning off its maintenance unit in what promises to be the country’s largest IPO this year.
Garuda and Krakatau Steel will be the first of Indonesia's many SOEs to raise cash in the equity market this year, deputy minister Parikesit Suprapto tells a Hong Kong audience.
An independent watchdog in Indonesia has accused Garuda''s management of participating in a $1 billion fraud involving mark-ups on aircraft leasing agreements.