Garuda Indonesia denies being sold to foreigners

Garuda Indonesia, the national carrier is in financial crisis. The airline owes $794.6m to overseas investors and there is endless speculation about Garuda being partly sold to a foreign airline.

Recently Lufthansa have been talking to Garuda and that fueled gossip about a partial take-over. Today the Indonesian government denied that wwas the case. Garuda seeks strategic partnerships with other airlines, but not strategic investors. That’s the current line anyway. There is a tremendous amount of national pride associated with Garuda and selling it would be a huge loss of face.

I have flown Garuda and they are a decent airline. Garuda is the winged horse of Hindu god Vishnu.