GMF AeroAsia Says Air France-KLM Unit Shortlisted as Strategic Partner
Jakarta. Indonesia's Garuda Maintenance Facility AeroAsia, or GMF AeroAsia, will pick Air France-KLM group's maintenance, repair and overhaul unit as a strategic investor after narrowing down a list of potential partners, a GMF AeroAsia executive said.
Garuda Indonesia's chief executive said in October the flag carrier estimated its unit GMF AeroAsia could raise $200 million from selling a 20 percent stake to a strategic buyer.
GMF AeroAsia has a longstanding partnership with Air France Industries KLM Engineering & Maintenance.
Corporate secretary Mohammad Arif Faisal also told reporters on Monday (22/01) that GMF AeroAsia would seek shareholders' approval for a 20 percent stake sale in March and expects a deal would be signed soon after.
Reuters
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