Garuda Indonesia (GA, Jakarta Soekarno-Hatta) plans to issue up to 248.7 billion new Series E shares through a rights offering, with an indicative subscription price of IDR58-68 rupiahs (USD0.003-0.004) per share, as part of its financial restructuring. The proposal is subject to shareholder approval at a meeting on November 6, 2026. Under the plan, major shareholder Danantara Asset Management will contribute its 65.8% stake in GMF AeroAsia, comprising 82.1 billion shares valued at IDR5.7 trillion (USD314.6 million), in lieu of cash. Danantara acquired the stake from InJourney Airports through a series of share transfers completed on November 2.