Indonesia Govt proposes USD500m bridging facility for Garuda Indonesia

Indonesia's Deputy Minister of State Owned Enterprises Kartika Wirjoatmodjo said the government is working through a proposal to provide approximately USD1 billion in financial support to Garuda Indonesia (Reuters/Bloomberg/The Star, 10/11-May-2020). Mr Wirjoatmodjo said the government will "negotiate for extension" of Garuda's USD500 million sukuk, adding: "Another USD500 million new bridging facility is still being worked on". He cited the airline as being "a good company with bright prospects", which will "remain robust after the outbreak ends".