Garuda Indonesia chasing $500mn from sovereign wealth fund

Garuda Indonesia Group is seeking around USD500 million from the Danantara (Daya Anagata Nusantara) sovereign wealth fund, according to Bloomberg.

The group operates Garuda Indonesia and Citilink. As previously reported in ch-aviation, the Indonesian government transferred its 64.5% stake in the company to a Danantara-controlled operational entity in March and funding talks have been underway since early May.

Late last month, Indonesia’s Minister of State-Owned Enterprises Erick Thohir approved…