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Garuda Turns to Share Sale as Fuel Eats Into $1.4 Billion Rescue

Flag carrier PT Garuda Indonesia’s finances deteriorated further just months after a $1.4 billion rescue by sovereign wealth fund Danantara, as surging fuel costs wiped out its remaining equity and added urgency to another share sale to shore up its finances.

We haven't written up this one. Bloomberg has the full story — the link below goes straight to it.

Read the original at bloomberg.com →

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