PT Garuda Indonesia needs at least US$1 billion of additional funds to cut debt and stay afloat, as the government says it could give up its majority control of the troubled flag carrier, Bloomberg reports. Garuda is currently in talks with creditors to restructure US$6.3 billion worth of debt and expects to reach an agreement in the second quarter of 2022, according to Kartika Wirjoatmodjo, a Deputy Minister at Indonesia’s State-Owned Enterprises Ministry. The … [Read more...] about Cash-stripped Garuda Indonesia needs US$1b to stay flying