Billionaire Chairul Tanjung-Backed Garuda Indonesia Gets $408 Million Loan From Danantara

Garuda—which is jointly owned by the government (whose stake has been transferred to Danantara) and billionaire Chairul Tanjung—has struggled with debt and financial problems for years. In 2023, it restructured $10 billion in debt but still needed government support to stay afloat.