Garuda Indonesia (GA, Jakarta Soekarno-Hatta) CEO Emirsyah Satar has told the Jakarta Globe that the Indonesian national carrier is continuing talks with two potential strategic investors interested in taking a 45% stake in its low-cost carrier Citilink (QG, Jakarta Soekarno-Hatta). While not naming the two interested parties, Satar said Garuda would need to ensure that the stake is sold at a good enough price and both investors were not keen to move ahead before the July 9 presidential election in Indonesia.
In other news, Garuda has announced plans to increase its stake in ground handler Gapura Angkasa from 65% to 80%.
