PT Garuda Indonesia Tbk has finalized the order for $2.13 billion in Airbus aircraft, which will add 25 new planes to its fleet, the airline’s chief financial officer said.
The 25 new Airbus A320s, including 10 fuel-efficient A320neos, will replace the Boeing 737-300s and 737-400s currently flown by Garuda’s low-cost unit, Citilink.
Citilink currently flies five 737s and is expected to receive the new Airbus planes in early 2014. Garuda is expected to announce its engine selection for the purchased aircraft in the near future. Each plane is tagged at $85 million. The purchase will be conducted through lease transactions. Management expected to boost Garuda’s revenue from Citilink from a single-digit rate to 30 percent.
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