PT Garuda Indonesia, the Indonesian national flag carrier and US jet maker Boeing Co., have entered into an agreement to upgrade Garuda’sfleet. Under the deal, worth $2 billion, the Indonesian carrier will replace its five 737-400s, by operating 18 Boeing 737-800s by 2006, and 10 Boeing 787 Dreamliners by 2013. The move is a result of large operational losses that Garuda has accumulated over the years, due to a continuing surge in global oil prices and increased competition from budget airlines…
Source: IIPM Publication.
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