Friday, April 6, 2007

Bahana FA for Garuda

PT Mandiri Sekuritas, PT Bahana Securities, PT Danareksa Sekuritas, PT Trimegah Securities and Ernst & Young are fighting to become the financial advisor of Garuda Indonesia on its plan to sell 49% of its states.

Some investors said they are interested in investing in Garuda. Rajawali Group is among the investors. Lufthansa Airlines (Germany), Air Canada, Thai Airways (Thailand), and Texas Pacific Group have been reportedly in cooperation with Rajawali.

Garuda is searching for US$1 billion to operate 25 units of Boeing 737-800 NG (Next Generation) starting May 2009. Garuda has signed the contract with Boeing Co and has paid US$23 million.
The company also has planned to renovate nine units of its aircrafts at the cost of US$6 million per unit.

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