Garuda Indonesia got a loan of IDR 1 trillion, this is what it is for

ILLUSTRATION. Garuda Indonesia got a loan of IDR 1 trillion, this is what it is for. BETWEEN PHOTOS / Feny Selly / hp / 18

Reporter: Fencing Septiadi | Editor: Adi Wikanto

KONTAN.CO.ID – Jakarta. PT Garuda Indonesia Tbk (GIAA) get a working capital credit facility from the Indonesian Export Financing Agency (LPEI) aka Indonesia Eximbank with a tenor of one year. The value of this loan reaches IDR 1 trillion.

This facility was given by Eximbank for the special export assignment (PKE) from the Minister of Finance to encourage the national aviation industry. “The loan can support the company’s service export activities in order to increase national economic growth,” said Garuda’s Director of Finance and Risk Management Fuad Rizal in his statement on the Indonesia Stock Exchange, Thursday (8/10).

PT Garuda Indonesia Tbk (GIAA) is a state-owned or state-owned airline. Indonesia Eximbank is also a government owned company.

For the record, since Monday (5/10) yesterday Garuda has also launched a special cargo flight on the Makassar-Singapore route to support the cargo flight network for export commodities from the eastern Indonesia region. The router will serve one flight per week on an Airbus A330-300 with a payload of up to 40 tons.

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This cargo flight is a management strategy of PT Garuda Indonesia Tbk (GIAA) in the midst of the corona virus pandemic. As is known, the number of airplane passengers at the domestic and international levels has dropped due to corona.