Garuda Secures USD27 Million Tranche B Loans

JAKARTA, KOMPAS.com - Garuda Indonesia said it had secured US$27 million in tranche B loans from Indonesia Eximbank.

The loans would be used as pre-delivery payment financing for 11 Boeing 737-800s of new generation and three Boeing 777-300 ERs from Boeing Company, Garuda vice president corporate secretary Ike Andriani said in a public expose at the Indonesia Stock Exchange (BEI) here on Friday.

In addition, she said the short-term loans due on February 12, 2012 would also be used for the purchase of three A330-200s from Airbus Industrie.