GIAA to Receive $1bn Total Funding from Danantara

Key Summary:
- Initial phase will see $405mn in shareholder loan from Danantara
- This is done as part of ongoing restructuring process since 2022
- GIAA has been making losses, with equity value negative since 2020
PT Garuda Indonesia (GIAA) is set to receive a total funding of up to $1 billion (around IDR 16.37 trillion) from the country’s sovereign wealth fund, Daya Anagata Nusantara (Danantara).
See the numbers: In the initial phase, Danantara will disburse $405 million (around IDR 6.65 trillion) in the form of a shareholder loan, primarily aimed to support the company’s working capital needs for maintenance, repair, and overhaul (MRO).