Jakarta, Nov. 14 -- National airline carrier Garuda Indonesia affirmed that the Rp23.67 trillion or US$1.4 billion capital injection from sovereign wealth fund Danantara Asset Management (DAM) provides a significant boost to the flag carrier's ongoing business transformation.

In a statement released here on Friday, President Director Glenny H. Kairupan noted that the fresh capital reflects the government's confidence in Garuda's strategic direction toward sustainable recovery.

Approved at an Extraordinary General Meeting of Shareholders (EGMS) held at the Garuda Indonesia Management Building on Wednesday (November 12), the injection marks a new chapter for the airline under Kairupan's leadership, shifting its focus from recovery to grow...