Garuda Indonesia prepares to divest part of GMF |
| Romain Guillot |
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19 SEP 2017 | 94 words
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Garuda Indonesia will soon sell up to 30% of its stake in GMF AeroAsia thanks to an upcoming Initial Public Offering (IPO). The MRO subsidiary is 99% owned by the Indonesian flag carrier.
The objective of this IPO is to raise up to $400 million to be able to finance the ambitious growth of GMF AeroAsia.
The largest aircraft maintenance company in Indonesia plans to be the Top 10 MROs in the world in 2020.
GMF AeroAsia's IPO was announced last May after the appointment of its new Chairman Iwan Joeniarto.
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Romain Guillot
Chief editor
Cofounder of Journal de l'Aviation and Alertavia
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