TEMPO.CO, Jakarta - PT Garuda Indonesia Tbk (GIAA) injects a 15 million USD fund to its subsidiary PT Citilink Indonesia.
Citilink provides a low-cost airline service to various interesting destinations in Indonesia. On June 21, 2017, Garuda Indonesia signed the US$ 15 million loan facility with Citilink Indonesia for a 13-month period, as cited by IDN Financials.
The information received from the Indonesia Stock Exchange (IDX), Garuda considered this transaction because Citilink needs a huge amount of fund for its business and the subsidiary's financial structure is not strong enough to get a loan from the Bank.
Until April 2017, Citilink has operated 47 planes of Airbus A320 with the capacity of 180 passengers and also the Airbus A320NEO.
Citilink is the first airline in Indonesia who operates A320NEO. At the moment, Citilink provides slight to 27 cities, 57 routes and more than 244 flight frequency every day.