Asian airlines shed excess baggage ahead of equity fundraisings
Planned equity raisings by two Asian airlines that have struggled with mountainous debt in recent years are yet another indication of the market’s recovery. Indonesian state-owned airline Garuda is in the final stages of a US$760m debt restructuring following which it will launch a US$300m IPO, while Thai Airways intends to raise up to Bt25bn (US$755m) via a rights offer.
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