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A world-first block-to-block air transportation agreement between the ASEAN and the European Union promises passengers an increased number of flights and more destinations for travel between the two regions.
"Due to ongoing pandemic-related flight and travel restrictions, the airline reported a loss of 20.3 billion dirhams ($5.5 billion) after last year's 1.1 billion dirhams ($288 million) profit," the Middle East's largest carrier said in a statement.
National flag carrier Garuda Indonesia needs more than cash to survive another day. To solve its Rp70 trillion (US$4.9 billion) debt crisis, the airline requires government help and a profound restructuring of its business.
Shareholders of the long-haul affiliate of AirAsia Group approved all resolutions at an extraordinary general meeting, including a rights issue and a share subscription for new investors to raise 500 million ringgit.
