Garuda eyes $1.5b loan for acquisition of 24 aircraft

Singapore
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Garuda Indonesia is in talks with the US Export-Import Bank to secure a $1.5 billion loan for the acquisition of 24 aircraft.

The aircraft, comprising 14 Boeing 737-800s and 10 Boeing 777s, will be delivered in 2012, says Garuda's president and CEO Emirsyah Satar.

Garuda has said earlier this year it plans to double its fleet to 116 aircraft over the next five years. It will take delivery of 23 737-800s and one Airbus A330-200 this year.