Garuda Indonesia (GA, Jakarta Soekarno-Hatta) has announced it will transfer four B737 Classics to its Citilink (QG, Jakarta Soekarno-Hatta) subsidiary as part of a non-cash capital injection valued at IDR80.93 billion (USD6.15 million).

According to Garuda, the aircraft include three B737-500s - PK-GGC (msn 28727), PK-GGD (msn 28728), and PK-GGE (msn 28729) - and one B737-300 - PK-GGG (msn 28731). The transfer will be effected next month to ensure Citilink complies with a government-gazetted deadline wherein all airlines which own less than five aircraft will be required to merge.

Currently the carrier operates a fleet of thirty-four A320-200s, all of which are leased.

Citilink, which specializes in domestic Indonesian operations, posted a net profit of IDR11.2 billion (USD0.86 million) for its first quarter and is on track to register a full-year operating profit of USD2.71 million as compared to a loss of USD17.67 million for the previous year.