Jakarta, ID
Tuesday, May 29 2012, 07:40 AM

Business

Garuda to sell 7 Boeing 737-400 aircraft

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State-owned airline PT Garuda Indonesia plans to sell seven of their old Boeing 737-400 aircraft this year, an official said Wednesday.

Garuda finance director Elisa Lumbantoruan said the sale was part of the airline's plan to renew its fleet and gradually phase out its 737 series fleet.

“The Boeing 737-400s will be sold first this year. The rest will follow so that by 2014 our fleet will be all new,” he said, as reported by tribunnews.com.

He said the company was currently inviting appraisal companies to value the aircraft.

He said that this year's sales strategy had been changed after last year the company sold just two of its aircraft.

“Last time the appraisals were based on the offers of the would-be buyer, resulting in the sale of two units only,” he said.