Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Garuda: Selling Off its Bits and Pieces
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Jln. By Pass Ida Bagus Mantra,
Jln. Pucuk 1 No. 70X
Denpasar, Bali
Indonesia

24h:
+62 (0)812 3819724
Tel:
+62 (0)361 464 032, +62 (0)361 471 0242

Bali Discovery

SITE PATA ASITA
Bali News

Garuda: Selling Off its Bits and Pieces

Subsidiaries, Office Buildings, Lots of Land and Old Airplanes for Sale to Help Address Garuda's Growing Cash Crisis.


Bali News:
Click Image to Enlarge

(7/14/2007)

While plans to secure a strategic partner for Indonesia's financially troubled Garuda Indonesia have inexplicably been placed on back burners, it now appears that the cash-starved national air carrier will soon put "non-productive" assets on the sales block in order to raise US$75 million in cash.

Part of an ongoing economic restructuring, the planned sale of assets is targeted to take place in 2007-2008.

The financial director of Garuda, Alex MT Maneklaran, told the Indonesian-language Bisnis Indonesia that he hope the Company's shareholders would issue the necessary approvals to permit the sale of "non-productive" assets and subsidiary companies.

Among the Airline's assets expected to be put up for sale, include:

• The Company's headquarters on Jalan Medan Merdeka Selatan in Jakarta which will precipitate a planned move to Bali's Soekarno-Hatta International Airport scheduled for completion by November 2007.

• Five DC-10 aircraft.

PT Garuda Maintenance Facility – Aero Asia(GMF)

PT Aerowisata Catering Services

PT Gapura Angkasa - a warehousing concern.

• A number of land parcels owned by the Airline.

Plans are also afoot that will see the management of Garuda's low cost carrier Citilink split off from the national carrier, expected to be completed by January 1, 2008.


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.

       

 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
Support Bali’s Culture
Bale Banjar Culture Club Featuring Bali-Based Author Diana Darling on Sunday, June 10, 2018
(5/21/2018)
And Never the Twain Shall Meet
‘Debussy, Between East and West ‘ Concert Was Not at Advertised, But a Memorable Musical Evening by Any Measure
(5/20/2018)
Welcoming the World Cup with Song
Bali Community Choir to Appear at World Cup Celebration at Warung Mina in Kerobokan on Saturday, June 2, 2018
(5/20/2018)
Dining and Drinking Unequalled on Bali’s Kuta Beach
Unbeatable Quality and Value for Money at ‘Seafood Martini Friday’ Every Week at Sheraton Bali Kuta Resort Poolside
(5/20/2018)
The Bad News is the Good News
Bali by the Numbers: Q1 2018 Arrival Figures Show Bali Tourist Arrivals Back on Track After Temporary Setback Caused by Mount Agung
(5/20/2018)
Sad Adieu to Bamboo
Fire Destroys Major Bamboo Furniture Factory in Kusamba, Bali
(5/20/2018)
In the Event of a Water Landing
Four Young Misbehaving Passengers on Semarang to Bali NAM Air Flight Returned to Base
(5/20/2018)
Beyond Bali to Timor Leste
Timor Leste Wants Bali to Become Gateway for Tourism and Training Center for 1st New Sovereign State of 21st Century
(5/20/2018)
The Indian Market is Calling
“Pacto Goes to India 2018” – Travel Trade Show to the World’s 2nd Largest Nation
(5/20/2018)
Ocha for Ni and Tea for Two
Sakura Tea Ceremony and Sumo Wrestling Event at Hotel Nikko Bali Benoa Beach on June 10, 2018
(5/20/2018)
In Dire Straits
No Casualties Reported as Bali-East Java Car and Passenger Ferry Burns
(5/20/2018)
Get Under It!
New Underpass at Entrance to Bali’s Airport to Open in August 2018
(5/20/2018)
All [News]!