Indonesia has no plan to cut stake in state airline Garuda

garudaJAKARTA: Indonesia’s government has no plan to cut its stake in state airline PT Garuda Indonesia Tbk, state enterprises minister Rini Soemarno told Reuters on Tuesday.

The minister’s comment came after the Nikkei newspaper reported that the government may sell 9.5 percent of the airline to investors, including foreigners.

The government owned 60.5 percent of Garuda as of June 30, Thomson Reuters data showed.

Garuda Chief Executive Arif Wibowo told Reuters in a text message on Tuesday that the carrier was not seeking more foreign shareholders.